The Pakistani rupee continued its upward trend, strengthening against the US dollar in interbank trading, with the dollar falling to Rs278.10, marking a decrease of 10 paisas.
Meanwhile, the KSE-100 index saw a significant boost, gaining 397 points (0.50%) in early trading, pushing the benchmark to 79,730 points.
Experts noted that Monday’s stock market closure left the KSE-100 index at 79,333 points, making Tuesday’s rise a notable increase.
In other developments, the International Monetary Fund (IMF) is set to hold an Executive Board meeting on September 25, where Pakistan’s new $7 billion loan program is expected to be approved. This program aims to support Pakistan’s ongoing economic reforms and stabilize its financial situation amid fiscal challenges.
IMF Director of Communications Julia Kozack confirmed the progress, stating that discussions with Pakistan had concluded in July. The State Bank of Pakistan (SBP) has also prepared measures to address external financing needs, as highlighted by SBP Governor Jameel Ahmed during a recent analyst briefing.
The meeting on September 25 is anticipated to play a crucial role in shaping Pakistan’s financial future.