On the first business day of the current week, we saw British Pound getting stronger against the Pakistani Rupee.
Rate in the open market has been increased by approximately 1 or one and a half rupee.
So what do you think? : )
Should you invest your money in BP? Now that we are seeing a bullish trend and may be BP will start to climb again?
Today, Monday 31st May, 10: there was a public holiday [Memorial Day Holiday] in the USA so all the markets were closed in the US. When markets in US are closed, then that pretty much means that the Global Market is close : )
And there was a public holiday in UK too [Spring Bank Holiday]:
Currently, if we are seeing BP getting strong against PK Rupee, then it is because BP is stronger against the US Dollar: but as there was a holiday in both these major countries, we cannot say for sure if this bullish trend will continue tomorrow when the markets in both these countries will re-open.
One good sign for the economy is the increased Oil Price. Other than this, I personally don’t know of a good reason why we can expect to see BP getting stronger vs $.
This is my personal opinion: I think we may not see BP getting any more stronger against $ on Tuesday, unless there is some good news for the UK and/or Europe.
But never the less, buying BP at the current rate is still ok. Investing money in BP when the rate is at approximately Rs. 122 is very much ok as we all know that BP has the potential to reach Rs. 140.
Anyway, it’s your decision as its your money : )
