Dollar rises by Rs1.50 in interbank market
KARACHI (92 News) – Variation in the US dollar against the rupee continued as the market opened on Monday.
US dollar increased by Rs 1.50 in interbank market and was being traded at Rs134 after closing at Rs131.93, whereas the US dollar increased Rs0.70 in open market and was being traded Rs133.
On the other hand, the Pakistan Stock Exchange lost another 1100 points by midday Monday from the 100 index. The 200 billion rupees of the investors were crashed.
The biggest fall in any Asian market – lower level than 36300 – that day and fell to its lowest level for 28 months as investors continued to pull out amid economic uncertainty.
The benchmark KSE-100 Index, a gauge to measure market performance, fell more than 3% by noon on Monday and was hovering at the 36,320-point level, the lowest in the last two-and-a-half years.