The dollar crossed the Rs 204 level, the stock market at a 19-month low
Lahore: (Ali Mustafa, Web Desk) The rupee began to depreciate sharply against the US dollar across the country, while after the budget, the worst decline was recorded in the Pakistan stock market, due to which investors lost billions of rupees. The 100 index hit a 19-month low.
.jpeg "According to economists, one of the reasons for the rise in the value of the dollar against the rupee is the end of the fiscal year 22-2021 in June and the payment of oil import bill. The pressure on the rupee could continue until the agreement with the IMF reaches its final stages, while there is a significant gap between the import and export targets set for the next financial year, indicating that the gap will narrow next year as well. You will need to borrow more to do this. Dollar speculators are also active in the banking sector and have suggested that the rupee could be strengthened by banning forward trading of the dollar. Billions lost due to worst slump in stock market On the other hand, the Pakistan stock market for the first time after the budget due to uncertainty recorded a big decline of 1134.80 points, and the 100 index closed at the level of 40879.93 points, due to the worst decline in the stock market 42 thousand and 41 thousand. The psychological limits of Investors lost more than Rs 178 billion. During the entire business day, the business declined by 2.7%. While 6 crore 27 lakh 10 thousand 521 shares were traded. Investors in the stock market lost an average of 12% during the PML-N coalition government, the index lost 5,528 points in two months. The index hit a 19-month low. Reasons for the Great Depression in the Stock Market It may be recalled that the financial budget for the next financial year 2022.23 has been presented in the National Assembly on Friday in which several such measures have been taken such as reduction in GDP target, increase in tax revenue target. Regarding the budget, investors believe that these measures will have a negative impact on industries, banks and large enterprises. In addition, even after the budget was presented to the IMF, the uncertain situation and this week's meeting of the Financial Action Task Force are also being given importance. Experts are predicting further rise in interest rates in the monetary policy to be announced next month as a result of the expected rise in prices of petroleum products. Happened")
According to the details, the dollar rose by Rs 1.5 in the open market and the price reached Rs 204.50.
On the other hand, according to the data released by the State Bank of Pakistan's social networking site Twitter, during the first trading day of this week, the value of US dollar against Rupee rose by 51 paise against the rupee in the interbank market. ۔
According to the data, the US dollar has risen from Rs 202.35 paise to Rs 203.86 paise against the rupee in the interbank market.
According to economists, one of the reasons for the rise in the value of the dollar against the rupee is the end of the fiscal year 22-2021 in June and the payment of oil import bill. The pressure on the rupee could continue until the agreement with the IMF reaches its final stages, while there is a significant gap between the import and export targets set for the next financial year, indicating that the gap will narrow next year as well. You will need to borrow more to do this. Dollar speculators are also active in the banking sector and have suggested that the rupee could be strengthened by banning forward trading of the dollar.
Billions lost due to worst slump in stock market
On the other hand, the Pakistan stock market for the first time after the budget due to uncertainty recorded a big decline of 1134.80 points, and the 100 index closed at the level of 40879.93 points, due to the worst decline in the stock market 42 thousand and 41 thousand. The psychological limits of Investors lost more than Rs 178 billion.
During the entire business day, the business declined by 2.7%. While 6 crore 27 lakh 10 thousand 521 shares were traded. Investors in the stock market lost an average of 12% during the PML-N coalition government, the index lost 5,528 points in two months. The index hit a 19-month low.
Reasons for the Great Depression in the Stock Market
It may be recalled that the financial budget for the next financial year 2022.23 has been presented in the National Assembly on Friday in which several such measures have been taken such as reduction in GDP target, increase in tax revenue target.
Regarding the budget, investors believe that these measures will have a negative impact on industries, banks and large enterprises. In addition, even after the budget was presented to the IMF, the uncertain situation and this week's meeting of the Financial Action Task Force are also being given importance.
Experts are predicting further rise in interest rates in the monetary policy to be announced next month as a result of the expected rise in prices of petroleum products. Happened
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