The rupee continued its downward slide against the dollar in the interbank foreign exchange market on Wednesday.

The greenback was trading at Rs282.64 at the closing of the market on the first trading session of November, as against the closing of Rs281.47 the previous day.

Meanwhile, the foreign currency was trading at Rs283 in the open market.

However, the Pakistan Stock Exchange closed on a positive note as the KSE-100 Index gained 422.36 points or 0.81% to cross the 52,000 mark. The Index was trading at 52,342.63 at the closing of the trading session.

The KSE-30 Index also remained in positive territory throughout the trading session as it gained 121.87 points or 0.69% to reach 17,903.98 levels at the closing of the market.

It is pertinent to mention that a delegation of the International Monetary Fund will arrive in Pakistan for talks on the next installment of the loan tomorrow (Thursday).

Pakistan is hopeful of receiving the next tranche under the Staff Level Agreement after the talks are completed.

The government has taken various steps in the first quarter of the current financial year including raising gas and fuel prices to lower the circular debt while surpassing the tax collection target for the first quarter of current fiscal year.