Pakistan, Karachi –In line with other Asian markets, the benchmark KSE-100 index has also plummeted, shedding nearly 1400 points as investors become more concerned about the growing situation between Russia and Ukraine.
The index is now trading at a little more than 43,000 points.
Stagflation, which is when prices don’t go up and they don’t go down, is what people are worried about. The rise in oil prices is expected to add more fuel for the already rising prices.
PKR also fell 70 paisas in the early hours of the interbank market because commodity prices on the international market rose so quickly.
The dollar was trading at 178.20 rupees, down from the previous close of Rs177.50.
