Rupee depreciated to all-time low of 210.2 against dollar, with another hike of Rs.2.45 on Monday.

Budget News

Inflation is deteriorating public condition, foreign investors are retreating, and the IMF is still on hold.

Finance Minister Miftah Ismail has once again managed to reassure investors by expressing optimism about the revival of an IMF deal within the next two days.

The new week’s first trading session began in a mixed tone. Market trended positive at the beginning of session but soon had to witness panic selling culminating in a 364-point drop after the dollar raised to Rs.210 on the interbank.

Concerns regarding foreign investments are growing as the dollar continues to rise. It is past time for the government to work to stabilize the dollar in order to ensure PSX sustainability since Pakistan stock market has already been rated as third worst Asian market.

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