PSX gains 683 points, dollar trades at Rs208.40

The first day of the new week started with the Pakistan Stock Exchange (PSE) gaining over 600 points, with the dollar trading at Rs208.40, according to the latest reports.

According to the PSX, the benchmark KSE-100 index on Monday had reached 41,734.31 points after witnessing an increase of 683 points or 1.66 percent.

On Friday, the KSE-100 index had lost 2,000 points or by 4.8 percent immediately after announcement of super-tax from the government.

The Pakistani rupee has also gained some value as opposed to its previous continuous depreciation. On Monday, the rupee was trading at Rs208.40 in the interbank market.

According to financial experts, a number of factors have attributed to the improvement. These include Chinese loan roll-over of $2.3 billion along with the hope of finalization of a deal with the International Monetary Fund.

Economists have also said that up to $3.6 billion deferred payment facility for oil by Saudi Arabia has also played a pivotal role.

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