PSX Loses Over 700 Points Amid Declining Rupee Value
The Pakistan Stock Exchange (PSX) remained under pressure on Tuesday, with the benchmark KSE-100 index dropping more than 720 points in intraday trading. At 12:00 p.m., the KSE-100 index was trading at 46,757 points, down roughly 700 points from the previous day’s finish of 47,478.61. The KSE’s decline, according to economic experts, was caused by […] The post PSX Loses Over 700 Points Amid Declining Rupee Value appeared first on Economy.pk.
Karobar
The Pakistan Stock Exchange (PSX) remained under pressure on Tuesday, with the benchmark KSE-100 index dropping more than 720 points in intraday trading.
At 12:00 p.m., the KSE-100 index was trading at 46,757 points, down roughly 700 points from the previous day’s finish of 47,478.61.
The KSE’s decline, according to economic experts, was caused by a lack of transparency in politics and the economy.
“A lack of triggers, with the next IMF review not due for several months,” noted expert Jafri, is also harming the investment climate.
The rupee, on the other hand, remained under pressure and fell further against the US dollar in open trade on Tuesday, trading above Rs320 to the greenback.
According to the Forex Association of Pakistan (FAP), the rupee has declined to Rs323 versus the dollar in the open market, while the interbank market remains under pressure.
The post PSX Loses Over 700 Points Amid Declining Rupee Value appeared first on Economy.pk.
