PSX 100-index dipped nearly 4 percent after polls results shock

ISLAMABAD (PEN) : The stock exchange index dipped nearly four percent on opening and at 11:54 the benchmark reached 63,103.65 points.

On the other hand, after the shocking results of Pakistan’s General elections, the Pakistani Rupee gained a record 30 paisas against the mighty US dollar in the interbank trading on Friday.

The new price of the US dollar reached Rs279 against the Pakistani Rupee. The price of greenback hits reverse gear ahead of elections— which were held despite all the ambiguities and speculation and now the results are being announced by the Election Commission of Pakistan (ECP).

At 10 am, the rupee was hovering at Rs279, an increase of Re0.34 against the greenback in the inter-bank market. On Wednesday, the rupee registered a marginal gain to settle at 279.34 against the US dollar, according to the SBP.