A big drop in the price of the US dollar was seen in the open market. On the second day of the business week, the price of the dollar decreased by Rs. 4 in the open market, after which the US dollar is trading at Rs. 291 in the open market. There has been a slight decrease in the price. The dollar is being sold at 287 rupees 25 paise after a reduction of one paise in the interbank.
On the first day of this business week, a significant decrease in the value of the dollar was seen in the open market, according to which the dollar fell by one rupee to the level of 296 rupees in the open market. Along with the value of the dollar, other foreign currencies A decrease has also been seen. While on Monday, investors lost billions of rupees due to the worst decline in the Pakistan stock market.
The first day of the business week closed several hundred points lower, with the 100 index closing at 40,621.21 points after a decline of 680.08 points. A decline of 1.65% was seen in the business during the entire business day while 9 crore 32 lakh 9 thousand 138 shares were traded due to which the investors had to bear a loss of 80 billion rupees.
According to economists, the market is growing nervous due to the fading prospects of the IMF program recovery. The IMF's latest response to the upcoming fiscal year's budget has also fueled market anxiety. The IMF has demanded a reduction in funds for defense, salaries, pensions, and federal development projects. According to the report of Express-News, the IMF has termed the budget as a waste of opportunity for economic recovery and said that Pakistan's net revenue is 6,887 billion rupees while the expenditure has been estimated at 14,460 billion rupees, which has no justification
