Rupee gains Rs1.05 against dollar in interbank trading, closes at Rs288.75

ISLAMABAD (APP) - Pakistani rupee on Wednesday witnessed the 17th consecutive recovery session as it gained Rs1.05 against the US dollar in the interbank trading and closed at Rs288.75 against the previous day’s closing of Rs289.80.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs287.6 and Rs290.5 respectively.

The price of the Euro decreased by Rs 1.86 to close at Rs305.03 against the last day’s closing of Rs306.89, according to the State Bank of Pakistan (SBP).

The Japanese Yen came down by 01 paisa to close at Rs1.93, whereas a decrease of Rs 2.29 was witnessed in the exchange rate of the British Pound, which traded at Rs350.74 as compared to the last closing of Rs353.03.

The exchange rates of the Emirates Dirham and the Saudi Riyal declined by 28 paisa each to close at Rs78.61 and Rs76.97 respectively.

Meanwhile, the 100-index of the Pakistan Stock Exchange (PSX) turned around to bullish trend on Wednesday and gained 87.38 points, showing positive change of 0.19 per cent, closing at 46,365.04 points against 46,277.66 points the previous day.

A total of 177,497,178 shares valuing Rs.6.928 billion were traded during the day as compared to 259,046,624 shares valuing Rs. 6.688 billion the previous day.

As many as 325 companies transacted their shares in the stock market; 172 of them recorded gains and 124 sustained losses, whereas the share price of 29 companies remained unchanged.