Rupee depreciates as dollar touches Rs188.05
Stocks took a hit on Monday as the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) plunged over 1,400 points owing to concerns regarding the International Monetary Fund (IMF) programme and rupee-dollar parity.
The benchmark index closed at 43,393.14, down 1,447.67 points, or 3.23%.
Shares of 363 companies were traded during the session. At the close of trading, 38 scrips closed in the green, 311 in the red, and 14 remained unchanged.
Overall trading volumes rose to 305.2 million shares compared with Friday’s tally of 305.20 million. The value of shares traded during the day was Rs9.23 billion.
Lotte Chemical Pakistan was the volume leader with 27 million shares traded, gaining Rs0.54 to close at Rs25.20. It was followed by Cnergyico PK Limited with 23.85 million shares traded, losing Rs0.55 to close at Rs5.56 and WorldCall Telecom Limited with 20.97 million shares traded, losing Rs0.11 to close at Rs1.57.
Meanwhile, the dollar was trading at Rs188.5 in the interbank at around noon on Monday as the rupee depreciated by Rs1.25, according to the Forex Association of Pakistan. The open market rate of the greenback was Rs187.8 at the same time.
