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Pakistani stock exchange gain momentum after news of Saudi deposits

 


After press conference of finance minister Ishaqe Dar announcing deposits of $2bn by brotherly country Saudi Arabia in State Bank of Pakistan, Pakistani stock exchange noticed a surge and KSE-100 index benchmark exceeded from 45000 points by surging 500 plus points after midday. 


American based credit rating agency fitch also upgraded Pakistan's long-term foriegn-currency Issuer Default Rating to CCC from CCC-( negative) leaving good impact on investors and a positive sign for cash strapped Pakistani government reeling under huge pressure of foriegn debt servicing. 

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