PSX: KSE 100 Index falls by 1300 points as dollar rate in Pakistan surged

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Pakistan Stock Exchange or PSX falls as KSE 100 Index declined by over 1,300 points.

PSX falls as KSE 100 Index declined by 1,319 points and reached at 39,177 points. On Friday, State Bank of Pakistan or SBP announced the monetary policy and the news about rupee devaluation. In addition, SBP also increased the key policy rate by the 150 basis points

On Friday, the USD to PKR ratio hit the all time high value as dollar rate in Pakistan reached at 142 in the inter bank.

However, within 3 months, the KSE 100 Index dropped by 3.8% or 1,573 points. From Aug 17 to Nov 22, the Index was reached to 40,874 points from 42,447 points

Earlier, tough conditions of IMF bailout package made Pakistan reluctant to accept the program. However, conditions included the rise in energy prices, complete disclosure of the China financial aid, and to implement more taxes.

Also Read: Tough conditions of IMF bailout package make Pakistan reluctant

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