US dollar rises as stock market rallies

The dollar gained 78 paise against the rupee in the interbank market on Thursday to close at Rs283.43, according to the State Bank of Pakistan.

On Wednesday, the dollar had gained Rs1.18 to go from Rs281.47 to Rs282.65.

The government has attributed the rupee appreciation to the crackdown on illegal money exchangers and dollar hoarders.

On the other hand, the stock market got off to a positive start with the 100-index gaining 330 points to reach 52,600 points.