This week, the market lost 881points to close at 43,233 points. The market witnessed a bloodbath on Thursday, one of the highest intraday drop -4.71% in the history of PSX. Investors reacted to the widening trade gap, inflation hitting the double-digit figure of 11.5%, and rupee depreciation against the dollar. The PIB rate increased, which further signals an interest rate hike.
In a tweet on Saturday, Shaukat Tarin announced that SBP has received USD 3bn from Saudi Arabia under a loan agreement. Although this inflow will momentarily address the falling rupee, it is said that the USD 3bn loam came with stringent terms. As per the agreement all terms are confidential and cannot be revealed without the consent of both parties.