Petrol price likely to witness another drop in Pakistan Read More: https://t.co/HLWcmVS3wd #ARYNews https://t.co/HNQZziy91x
India rupee gains, tracking Asian peers and on hopes of equity inflows https://t.co/eZwGGH5JNF via @Reuters
Renewed rally in Asia FX, potential inflows bring relief for rupee https://t.co/DSi8BQ3Ym8 https://t.co/KHPUXskMzp
The Pakistan Stock Exchange (PSX) experienced a bearish trend, declining by 487 points. Concurrently, the Pakistani rupee depreciated slightly, closing at 83.96 against the US dollar, a decrease of 3 paise. This decline was attributed to strong demand for dollars from importers, particularly oil companies. However, the rupee remained above its record low, supported by dollar sales from state-run banks. Analysts noted that expected inflows and a renewed rally in Asian foreign exchange markets provided some relief for the rupee, although weak risk appetite continued to exert pressure. In related news, petrol prices in Pakistan are anticipated to see another drop.
