KARACHI – *Pakistan Stock Exchange crashes yet again on Friday.*
Pakistan Stock Exchange (PSX) ended the last trading of the week also inthe red zone, as the indices continued to bleed all day long amid lowturnover.
Investors preferred to stay on the sidelines following the uncertaintyarising from the fluctuation in currency, concerns regarding upcomingbudget, anticipated hike in monetary policy and decline in the rate ofeconomic growth.
As per reports, the US Dollar recorded a new high of Rs150 in the openmarket on Friday. The value of rupee has been on a constant decline sincePakistan’s bailout agreement with the International Monetary Fund.
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Moreover, according to the State Bank of Pakistan, foreign exchangereserves held by the central bank fell by 1.5pc on a weekly basis and wererecorded at $8.85 billion.
