The Pakistani Rupee experienced a slight improvement in relation to the US dollar, showing a slight appreciation in the interbank market on Friday.
A little post noon, the local currency was hovering at Rs278.30, representing a gain of 8 paisas against the greenback.
The rupee had closed at Rs278.38 on Thursday, after a gain of 2 paisas.
In recent weeks, the domestic currency has been around Rs277-279 against the dollar, as Pakistan moves forward with its plan to win a longer and larger International Monetary Fund (IMF) bailout programme.
Also Read: Pakistan Stock Exchange witnesses fluctuating trends
On a global scale, the US dollar was poised for a second consecutive quarterly gain and surged to a nearly four-decade high against the battered yen in Asia trade on Friday, ahead of a crucial inflation reading in the United States.
Meanwhile, the Pakistan Stock Exchange (PSX) witnessed fluctuating trends in its first session on Friday, ultimately closing on a positive note despite initial volatility. The benchmark KSE-100 Index started the day with a drop of nine points, settling at 78,519 points by the end of trading.
Investors navigated through varying market conditions throughout the session, with early declines giving way to a recovery that propelled the index upwards towards the closing bell.
Earlier in the day, the market opened with cautious optimism as investors responded to developments both locally and internationally. This positive sentiment saw the KSE-100 Index make a significant turnaround, gaining 155 points to reach 78,684 points mid-session.
