According to local dealers, the value of the US dollar has risen by nine paisas in the interbank market on Monday.
It is now being traded at Rs278.30, indicating a slight yet noticeable increase.
Concurrently, the Pakistan Stock Exchange is encountering fluctuations in the early session.
This uptick in the US dollar’s value coincides with fluctuating trends in the Pakistan Stock Exchange (PSX). At the outset of today’s trading session, the KSE-100 index saw a decrease, dropping by 102 points. Presently, the index is trading at 75,856 points.
The marginal increase in the dollar’s value signals the persistent volatility in the currency market.
Dealers attribute this fluctuation to various factors, including international market trends, economic policies, and investor sentiments. The interbank market, where banks conduct currency trades, often serves as a gauge for broader economic conditions.
At the same time, the Pakistan Stock Exchange is experiencing fluctuations in the early session. The 100 Index’s decline by 102 points underscores the prevailing uncertain market sentiment among investors.
Analysts indicate that this volatility could stem from a blend of global economic factors, domestic economic policies, and market speculations.
Across the globe, Asian shares inched higher on Monday as investors prepared for a week filled with data, culminating in a crucial U.S. inflation report that might pave the way for a reduction in interest rates in the future, although not immediately.
Holidays observed in the United States and the UK resulted in limited trading activity ahead of Friday’s release of core personal consumption expenditures (PCE) figures, the Federal Reserve’s favored gauge of inflation.
Median projections anticipate a 0.3% increase in April, maintaining the annual rate at 2.8%, with potential risks to the downside.
