Pakistani stocks close near a 29-month high; rupee firms

Pakistan's central bank on Monday announced an increase in its key policy rate to 14 per cent from 13.5 percent. — File Photo

KARACHI: Pakistani stocks, led by the energy sector, ended near a 29-month high on Tuesday despite an increase in the key policy rate the previous day, which dealers said had been factored in by the market.

Pakistan’s central bank on Monday announced an increase in its key policy rate to 14 per cent from 13.5 percent to combat persistent inflation due to government borrowing from the State Bank of Pakistan.