Islamabad, Sep 23: The US dollar continued its depreciation trend on Monday, marking the ninth consecutive day of decline in the exchange market. Currency dealers reported a drop of 4 paisas, with the dollar trading at Rs277.80 at the start of the business day.
In the open market, the British pound was bought at Rs367.5 and sold at Rs368, while the Euro traded at Rs308. The Saudi Riyal was priced at Rs74.8, and the Bahraini Dinar at Rs735.
In a positive turn for the economy, the Pakistan Stock Exchange (PSX) reached an all-time high, with the KSE-100 index gaining 333 points to trade at a record 82,407 points.
Amid these economic developments, the federal government has indicated the potential introduction of a mini budget during the current financial year. Minister of State for Finance Ali Parvez Malik mentioned that meeting the International Monetary Fund’s (IMF) targets may necessitate such measures.
While the government prefers to avoid this route, they may consider a mini budget if target figures are not achieved.
