KARACHI: The US dollar shed Rs5.36 against the rupee on Monday in the inter-bank market, falling to Rs122.5.
In the open market, the foreign currency fell by Rs2, to trade at Rs118 (buying) and between Rs120-122 (selling). According to sources, the dollar is likely to further depreciate later in the day as some exchange companies are yet to start trading.
As the markets opened, the Pakistan Stock Exchange (PSX) also witnessed a positive trend. The benchmark KSE-100 index gained 314 points to reach 43,100 points.
The positive economic indicators are considered to be largely driven by what investors consider the return of political stability following the July 25 polls.
The national debt will decline by Rs450 billion as the rupee consolidates gains against the greenback.