News

The dollar becomes expensive 

After the elections, the rupee depreciated, and the dollar became expensive.

At the start of the business week, the rupee depreciated in the interbank and open market; dollar reserves also fell significantly.

  With the depreciation of the rupee after the elections, the dollar became expensive; at the beginning of the business week, the value of the rupee fell in the interbank and open market, and dollar reserves also decreased significantly. According to the details, an increase in the value of the US dollar against the rupee was recorded in the interbank on Monday. On the first day of the business week, the US dollar gained 5 paisa in the interbank market, due to which the dollar closed at 279 rupees 33 paisa.

The dollar’s value also increased in the open market, with an increase of 25 paise. The dollar is being sold at 281 rupees 25 paise. Meanwhile, Pakistan’s dollar reserves have also significantly decreased.

The official foreign exchange reserves recorded a decrease of 173 million dollars. After a decrease of 173 million dollars, the government reserves reached 8 billion 44 million dollars.

According to the Central Bank, total foreign exchange reserves were recorded at 13 billion 976 million dollars, while commercial banks have 5 billion 536 million reserves. On the other hand, after the general elections held in Pakistan on February 8, the Pakistan Stock Exchange fell by more than 3 thousand points in just 2 business days. According to economists, uncertainty has increased in the market due to the controversy over the delay in the general election results and no party getting a simple majority.

Due to this, the Pakistan Stock Market Stock Exchange saw a severe bearish trend on the first day of the business week. At the beginning of the business day, the Pakistan Stock Market recorded a decline of more than 2200 points. However, the business day ended with a decline of 1878 points each, after which the 100 index came down to 61 thousand 65 points. Due to the recession, 85% of share prices fell while 2 trillion 64 billion 52 crore 29 lakh 398 rupees of investors were lost.

Earlier, the next day after the elections, Friday, February 9, the 100 index of the Pakistan Stock Exchange closed at a decline of 1200 points. In just 2 business days after the election, the 100 index of the Pakistan Stock Exchange has lost 3 thousand 78 points. Over 325 billion rupees of investors were sunk due to a decline in the Pakistan Stock Exchange in 2 business days.

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also
Close
Back to top button