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Pakistan Stock Exchange loses 1400 points amid uncertainty over Elections Results

10:23 AM | 12 Feb, 2024
Pakistan Stock Exchange loses 1400 points amid uncertainty over Elections Results
Source: File Photo

KARACHI - Pakistan Stock Exchange (PSX) KSE 100 continues with a bearish trend on Monday, losing 800 more points, as investors fell to uncertainty after the election results started coming out.

In early hours of Monday, the benchmark KSE-100 declines and currently hovering at 61529 points.
 
Experts attribute the fall in PSX to delay in election results while panic-hit investors remain cautious to avoid blows.

The change at PSX speaks of unexpected unofficial results as so far it is behind a smoke screen that which party will form the government in the country of 240 million.

The election outcome points to increased political instability, casting darker shadow over growth and prospects for securing IMF aid the Asian country needs.

The formation of coalition government is likely to be challenging and chaotic, and it could lead investors to put funds on hold, experts said.

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 21 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.

UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 21 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300 303
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 76.15 76.9
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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