The final negotiations between Pakistan and the IMF created an atmosphere of hope, resulting in the Pakistani rupee depreciating by 2.63 percent against the dollar during the five-day trading.
During the weekly trade, the value of the dollar, pound and euro declined on the foreign exchange markets. The interbank rate of the dollar fell below Rs 270 while the open rate fell to Rs 273. For instance, the value of the dollar decreased by 7.29 rupees in the interbank market, closing at 269.28 rupees, while the value decreased by 10 rupees in the open market, closing at 273 rupees.
Apart from this, in the hope of restoring the IMF program, the Pakistan stock market was booming last week. The business graph continued to rise due to the investment of domestic and foreign investors. The shares of the oil and gas refinery banking sector were the centre of attention.