Political uncertainty causes PKR to drop to all-time low of 215; KSE-100 plunges 775 points

68

Islamabad: The political uncertainty triggered by the results of the by-polls in Punjab has caused the Pakistani rupee to drop to an all-time low of 215 against the US dollar in the interbank during intraday trading on Monday.

Read: PTI crushes PML-N in Sunday’s by-polls; What’s next?

The rupee depreciated against the greenback by Rs4.30 and was trading at a record Rs215.25 against the local currency at 1:18 pm, per the Exchange Companies Association of Pakistan.

KSE-100 plunges nearly 780 points

During intraday trading on Monday, the benchmark KSE-100 index fell by more than 700 points. Analysts attributed the trend to the political uncertainty caused by the results of the Punjab by-elections held the previous day and the rupee’s weakening versus the dollar.

The market opened at 42,074 points but fell by almost 770 points at 1:15 pm.

This is an intra-day market update. Values may oscillate depending on the market.

Previous articlePakistan Sri Lanka second test moved to Galle
Next articleAsia Cup 2022 likely headed to UAE