The KSE-100 loses 423 points because the IMF is late and there is a currency crisis.

On Wednesday at 1:15 p.m., the benchmark KSE-100 index lost 423 points on the Pakistan Stock Exchange (PSX).

Analysts say that the negative feelings were caused by the International Monetary Fund (IMF) taking too long to finish its ninth review, the foreign exchange crisis, and unstable exchange rates.

At 1:15, the index was 39,866.99 points, or 1.11 percent. On Tuesday, the index was closed at 39,802.91 points.

Related: The goal of Egypt’s new deal with the IMF is to reduce government debt.