The Pakistan Stock Exchange registered gains on Wednesday, as its benchmark KSE-100 index surged by 1,227 points to reach 38942.53 points.
The index gained by 3.26 per cent as the market opened on Wednesday, a day after Saudi Arabia agreed to provide $3 billion to Pakistan as balance of payment support during Prime Minister Imran Khan's visit to the kingdom.
The US dollar also fell by Rs1.21 against the rupee in the interbank market, and was trading at Rs132.70 in the early hours.
On Tuesday, a statement from Prime Minister Imran Khan's office said that Saudi Arabia will provide Pakistan with a deposit of $3 billion for a period of one year as "balance of payment support".
"It was agreed that Saudi Arabia will place a deposit of USD 3 Billion for a period of one year as balance of payment support," the statement said.
"It was also agreed that a one year deferred payment facility for import of oil, up to $3 billion, will be provided by Saudi Arabia. This arrangement will be in place for three years, which will be reviewed thereafter."
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