Yes, the stock market is up.
Yes, the STOCK MARKET *IS STILL* NOT AN ACCURATE INDICATOR OF THE ECONOMY.
We've got a long way to go before business as usual commences. IMF challenge out of the way for now, but a lot more left to do to restore business sentiment and output.
Interestingly, Big Mac price based currency evaluation by The Economist shows PKR is 42.5% undervalued.
It says USD should value 101.55Rs (Without GDP adjustment).
While adjusting with GDP it shows PKR is quite fairly valued (1.8% overvalued), same as REER by State Bank.