Dollar Continues to Decline in the Interbank Market

Karachi: The downward trend of the US dollar against the Pakistani rupee remains intact in the exchange market. According to currency dealers, on the second day of the business week, the value of the US dollar decreased by 7 paisas in the interbank market, dropping from 277.97 PKR to 277.90 PKR.
Meanwhile, the Pakistan Stock Exchange (PSX) witnessed a remarkable surge, with the benchmark KSE-100 Index rising by over 1,000 points, reaching a new all-time high of 104,361 points.
Experts in the currency market suggest that despite a slight increase in the dollar’s value last week, it is likely a temporary trend, and the value of the dollar is expected to decline further in the near future. They anticipate that the dollar will likely decrease in the long term, barring any significant changes.
Some experts predict that if current trends persist, the dollar could reach 250 PKR within the next two to three months. National and international indicators are signaling that the US dollar may see a substantial decline moving forward.