Dollar keeps inching upwards against PKR in interbank market

KARACHI: The US Dollar (USD) continued its steady climb against the Pakistan Rupee (PKR) in the interbank market on Monday, ARY News reported.

The greenback is being traded at Rs 155.30 today whereas it was being traded at Rs 155.23 yesterday, a 7paisa increase in value was recorded, revealed the forex dealers.

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Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh said on Sunday said that the “strong rally” in stock market showed “increasing investor confidence” in the government’s stabilisation measures.

Taking to Twitter, he said the KSE-100 index was up by 14.9 per cent in November, the “highest one month return after May 2013.”

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He added the index increased by 36.6 per cent (10,500 points) since August 16.

The stock market staged a rally for the fifth week in a row in the outgoing week as the KSE- index cross the 39,000-level after eight months to close at 39,288. He said gained 1,362 points (3.59 per cent).

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