Forex-Here.com All about Forex

The Pakistan government faces quite difficult task at the moment - to find about $5 billion in a 30 days with the aim to prevent default on current account payments.

Karachi Stock Exchange: Because of protracted Eidul Fitr holidays trading activities at the Karachi stock market remained dull. Interestingly during these holidays the lowest turnover in the trading history of the market was made a formal record on account of prudent approach by the investors provoked by decreasing rupee value. This opinion was given by professional analysts.

According to the experts the dull trades appeared at the Karachi stock market were caused by the insufficient economic development and accompanied by the global financial markets turmoil that made investors’ activity to remain at low level. However there were several other factors that affected the market quite negatively. They are long lasting selling pressure that made rupee to fall to its new lows, not clear situation with the forex reserves and its impact on the debt ratings of the country.

According to the announcement made by the official sources yesterday Pakistan is going to receive about $5.5 - $6.5 billion as a foreign exchange support from international sponsors. This aid is will be made throughout the time period from October to December 2008.