Despite the pandemic, Pakistan Stock Exchange (PSX) showed substantial growth while the local currency also stabilized during the fiscal year 2020-2021 (FY21) whereas the prices of commodities soared due to a hike in its global prices in the lockdown environment.
According to the documents available with News360, PSX registered 40% growth from July 2020 to June 4, 2021 while Pakistani rupee also resisted major international currencies in FY21.
The documents said the Pakistani rupee pushed down the US dollar by 8% at the interbank and 6.8% at the open market in FY21.
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The British pound fell by Rs 11 to Rs 208.50 while Euro gained 50 paisas and rose to Rs 188 during the period.
Commodities witnessed hiked
The US crude oil prices in the international market experienced a rise of 76% to $69.24 per barrel while the price of Brent crude oil surged by 74% to $71.23 per barrel during the fiscal year.
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The global coal prices rose by 105% to $113 per ton in FY21 while the cotton price increased by 35% to 91 cents per pound in the global market.
The gold price saw a surge during the fiscal year amid the pandemic situation and it rose by Rs 6,950 to Rs 112,150 per tola domestically.
The price of the metal went up by Rs 5,958 in the local market during the fiscal year.
The gold rates touched an all-time high of Rs 132,000 per tola and Rs 113,169 per 10 grams in FY21.
In the international market, the gold rates rose by 5.6% to $1,880 during the corresponding period.
The gas price in the international market witnessed a rise of 76% to $3.01 per Metric Million British Thermal Unit (MMBtu).