KARACHI – In a good development, Pakistan Economic Indicators revealpositive trajectory in FY 2019-20.
Pakistan Foreign Exchange Reserves have witnessed an increase of over $1billion with the Reserves increasing to over $15 billion.
Pakistan Stock Exchange (PSX) witnessed an upward trend in the outgoingweek with the benchmark KSE-100 index gaining 1,014 points or 3.3 percentto settle at 31,481 points, Dunya News reported on Saturday.
With a significant average trading volume of 13 million shares over acourse of the week, PSX shares have risen by Rs125 billion.
Collectively, foreign investors have bought a total of $1 million worth ofshares.
According to stock market analysts, despite recent simmering Pak-Indiatensions and the current uncertain political situation in the country,investors have shown interest in the stock market due to a likely fall ininterest rates.
Economists were of the view that since the passage of the financial budgetfor the fiscal year 2019-20, the stringent policies had been reflectingthemselves in the downfall of the stock market.——————————
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On the other hand, the Pakistani rupee has appreciated by 40 paisa againstthe US dollar in the outgoing week and closed at Rs156.30 in the openmarket on Friday.
In the last two months, the local currency has recovered significantlyagainst the greenback in the interbank market.
Likewise, in the interbank market, the rupee gained by 13 paisa against thegreenback with slight fluctuation in the whole week and settled at Rs156.19.
Currency traders were of the view that the increasing inflows of remittancein have supported the local rupee in the market.
