The US dollar on Friday gained 17 paisas value against the Pakistani Rupee and reached Rs279.50. The PSX-100 index also gained 323.97 points or 0.25 percent and reached 62,238.31 benchmark as investors’ struggled trust on the recovery path after the power sharing formulae agreed between political forces in Center, Punjab and Balochistan. Last year in August, for the first time in Pakistan’s history, the country’s currency plummeted in value to more than 300 rupees against the US dollar. The devaluation of local unit leads to raising fears that everyday items could get more expensive as consumers continue to face back-breaking inflation.

Credit: Independent News Pakistan (INP)