The Saudi funding announcement is being widely seen as a positive surprise much needed to bolster the external account: analyst.
Analyst says traders are nervous which is causing a high level of stress and the market needs a firmer direction.
Exchange companies' chairman attributes greenback's latest surge to uncertainty created by govt's talks with the IMF.
Dollar closes at Rs168.18 in interbank, down from yesterday’s close of Rs169.12.
At Rs163.67 per dollar, this is the lowest level reached by the rupee against the greenback since Oct 13, 2020.
The rupee depreciated by 70 paisa compared to yesterday's closing value of Rs159.30.
Pakistan is already negotiating for maximum possible fiscal space to develop a growth-focused budget.
The market remained in the green throughout the session, seeing an intraday high of 48,237.61 points.
Asad Umar says the development reflects reaction to "signs of sustained recovery" and successful containment of third Covid wave.
Considering that the share of SMEs in Pakistan’s GDP is around 40pc, it’s not a segment that can be continuously ignored.
"Thank you for your faith in Naya Pakistan," says PM Imran, calling overseas Pakistanis the country's biggest asset.
KSE-100 index gains 97 points (0.22 per cent) to close at 44,587.85.
Dollar quoted at Rs152.60 – 49 paisa higher than yesterday's close – during early trade at interbank after opening at Rs152.50.
The Pakistani currency closed the day's trade at Rs153.09 per dollar.
The dollar was being quoted at 154.15/154.20 around noon compared to Friday’s closing value of Rs154.58.
Rupee closes at Rs155.01 in interbank against yesterday's close of Rs155.39.
Total exports in February jump 3pc over January, 8pc year-on-year to $2.65 billion.
The central bank has kept the policy rate unchanged for the past nine months.
The index has climbed 2,671 points (6.24pc) during the last four days, the highest four-day increase since April 2020.
FDI dropped 30pc year-on-year to $1.30 billion during the first eight months of the current fiscal year, central bank data shows.