Pakistan’s economy has started showing stability and positive growth in the financial year 2019.
The Pakistan Stock Exchange (PSX) has witnessed an optimistic trend in the previous week with the standard KSE-100 index getting substantial 2,585 points to close at 31,350 points.
During the span of one week, the foreign investors sold a total of $4,900,000 worth of shares.
Furthermore, since the course of the financial budget for the fiscal year 2019-20, the stern policies had been reflecting in the downfall of the stock market.
As per the JS Global report, the local bourse closed positively on the news that Pakistan might be leaving the FATF grey list. The market experts and analysts are anticipating a positive momentum in the coming days.
In the interbank market, the rupee has surged by 43paisa against the greenback with a little fluctuation in the entire week and was settled at Rs.157.52.
In the previous weeks, the rupee was depreciated against the US dollar, which in turn caused increased prices of commodities and increased in the hardships for the general public.
Previously, the local currency has declined immensely despite getting the first tranche of $991.4 million from the International Monetary Fund (IMF).
The gradual decrease in the rupee had come to surge demand for the dollar against the thin supply as the country kept on making aggressive foreign payments to partially pay off big foreign debt and for imports.
It is expected that the US dollar rate would get affected for some time and the value of the Pakistani rupee would reach stability after the proper implementation of the economic policies.