PSX or Pakistan Stock Exchange is on a constant decline as KSE 100 Index observed another negative trend today.
KSE 100 Index reached at 33,087.58 points as it fell by 883.58 points on Friday (today). At the beginning of the current week, the KSE 100 Index fell by 2.41% or 816 points to close at 33,900 points. Today, USD to PKR or Dollar rate in Pakistan is now reached at Rs 149 in the interbank market. The Pakistani Rupee gained by Rs 2.48 in the interbank market before hitting a new high. According to financial analysts, the Dollar rate in Pakistan will further increase by 15% to 20% till December 2019.
According to the market analysts, the high selling pressure is observed due to the latest Pakistani Rupee depreciation happened after the finalizing of IMF loan to Pakistan. On the other side, the Pakistani Rupee devaluation would badly impact earnings of the companies listed at the PSX.