The price of the US dollar reached Rs278.10 with a decrease of 10 paisas against the Pakistani Rupee in the interbank trading.
The KSE-100 index gained 397 points with an appreciation of 0.50 percent and the benchmark reached 79,730 points.
The experts said the previous closure of the stock market on Monday was 79,333.
The International Monetary Fund (IMF) is set to hold an Executive Board meeting on September 25, during which Pakistan’s new loan program could receive approval.
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This was confirmed by IMF Director of Communications, Julia Kozack, during a press briefing.
According to Kozack, the IMF's discussions with Pakistan were successfully concluded in July, focusing on a potential $7 billion loan package. The program aims to support Pakistan's economic reforms and stability efforts amid ongoing fiscal challenges.
“The IMF is expected to review and possibly approve the loan program for Pakistan during the board meeting on September 25,” Kozack stated, underscoring the importance of the upcoming session for the country’s financial outlook.
On the other hand, the State Bank of Pakistan (SBP) has made arrangements to address the country’s external financing gap, confirmed SBP Governor Jameel Ahmed during an analyst briefing following the recent monetary policy announcement.
The briefing, aimed at providing insights into the nation’s financial situation, highlighted ongoing efforts to stabilize the economy.
