PSX or Pakistan Stock Exchange is in great turmoil as on Monday (today) KSE 100 Index hit the 38-month low during trading.
KSE 100 Index reached at 32,385 points in the intraday trading after observing a decline of 780 points today. However, it is a lowest level in the previous 38 months.
On Friday, reached at 33,087.58 points as it fell by 883.58 points. At the beginning of the previous week, the KSE 100 Index fell by 2.41% or 816 points to close at 33,900 points.
Financial analysts said investors extended selling on expectation for key interest rate hike by 100-200 basis points today.
On the other side, Dollar rate in Pakistan or USD to PKR is now Rs 151 in the open bank market. In the interbank market, it is reached at Rs 148.8 after increasing by Rs 0.93. According to market analysts, the USD to PKR rate will further increase by 15% to 20% till December 2019.