KSE 100 Index faces turmoil, dropped by 700 points

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PSX faced a negative trend and KSE 100 index faced a huge decline today.

KSE 100 Index reached at 33575.95 points and declined by 715 points. As per the financial analysts, the selling trend is high because of the most recent Pakistani Rupee devaluation occurred after the agreement of IMF bailout to Pakistan. On the opposite side, the Pakistani Rupee degrading would severely affect income of the organizations that are listed at the PSX.

Yesterday, Dollar rate in Pakistan out of the blue came to at Rs 146.25 in the open market. The raise of Rs 2.25 was seen as understanding is concluded in regards to the $6 billion IMF bailout to Pakistan. From that point forward, PM Imran Khan requested concerned experts to make a move against outside trade organizations selling the dollar at above Rs 144.

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