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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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Currency Rates in Pakistan Today - PKR to US Dollar, Euro, Pound, Dirham, and Riyal 12 April

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 12, 2024.

US Dollar rate in Pakistan

On Friday, the US dollar was being quoted at 277.4 for buying and 280.65 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 12 April 2024

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