Karachi: (RightNow) The Pakistan Stock Exchange witnessed a surge on the last day of the trading week. The interbank market saw a 1 paisa decrease in the US dollar rate.

The 100 Index increased by 1245 points, reaching 176,793 points. Meanwhile, the State Bank’s foreign exchange reserves recorded a decrease of $229 million.

According to the Exchange Companies Association of Pakistan, the dollar is trading at 277.80 rupees in the interbank market. Despite the stock market surge, the decline in foreign reserves is concerning.

Economic experts state that the stock market surge is positive for the national economy, but the decrease in foreign reserves is a dangerous sign. This decline could impact the country’s economy.

It is noteworthy that the previous day, the benchmark KSE 100 Index closed with a 495-point increase at 175,547.98 points, with a slight improvement in the rupee maintained.