PSX 100-index falls below 40,000-point mark
- By Web Desk -
- Jul 21, 2022
KARACHI: The Pakistan Stock Exchange (PSX) witnessed massive selling pressure on Thursday as the benchmark KSE-100 index shed more than 500 points.
The market began its slide soon as the benchmark KSE-100 index plunged 582 points.
The KSE-100 index is currently trading at 39,877 points.
On the other hand, the devaluation of the Pakistani rupee in the interbank continued on Monday after it fell to a record low in the interbank against the US dollar.
Read more: US dollar reaches record high against rupee for third consecutive day
Pakistani rupee on Thursday hit another low after the US dollar strengthened against the local currency following a delay in the release of an Rs1.17 billion tranche from the International Monetary Fund (IMF) despite a staff-level agreement and political uncertainty in Punjab.
In the interbank today, the US dollar gained Rs1.08 against the rupee and traded at Rs226. In the open market, the greenback traded between Rs226 to Rs227.