Dollar floats at 104.30 rupees in open market

Karachi: On the first business day in an open market, rupee depreciated against dollar by one. Initially it was recorded at 103.50 whereas it is floating at 104.30 in the open market, Aaj Tv News reported.

Karachi Stock Exchange is declining on the first day of the business working. The index declines 1400 points at the opening of the market. Many foreign investors were seen selling their shares.

On the other hand, talks between India and Pakistan suspended and political unrest due to several developing issues including Rashid Godil and MQM’s resignations from the parliament is causing Pakistani stock market a huge downfall after several months of good progress.

Pakistan stock Exchange is ranked third in top 10 best performing markets of 2014, According to Bloomberg.