Rupee depreciation takes heavy toll on investors in Feb 2023
Business
Rupee depreciation takes heavy toll on investors in Feb 2023
LAHORE (Dunya Investigation Cell) – Pakistan Stock Exchange lost Rs1.2 trillion in the second month of 2023, while the total finance of PSX now stands at Rs62.7 trillion from the previous 63.9 trillion.
In February 2023, the dollar lost Rs six when compared with the rupee and due to this reason, the rate of dollar in the interbank reduced to Rs262 from Rs262.
The reduction in the dollar affected the PSX. The total volume of PSX increased to $23.9 billion from $23.8 billion. Hence, the increase in the rupee value in February increased the PSX volume by $11 million.
In February, the SE 100 index of PSX reduced by 163 points to 40,510 however, KSE 30 index reduced by reduced by 3 points to 15,187.
The investors lost Rs83.8 billion on February 10 when KSE 100 index saw reduction in 725 points. However, investors gained profit of Rs1.1 trillion on February 9.
Pertinent is to mention here that the investors lost Rs44.1 billion on the last day of February 2023 when KSE 100 index witnessed reduction in 274 points.
