The federal government has determined the value of the dollar for the budgeting of the next fiscal year 2024-25, the budget estimates are being fixed at the rate of 295 rupees per dollar.
According to the media report, the dollar rate is estimated to increase by 10 rupees compared to the current financial year. The revised dollar rate for the current financial year was estimated at 285 rupees.
Sources say that due to the increase in the dollar rate by 10 rupees, there is also a fear of inflation in the next financial year, the demand for Pakistani products in the global market will increase and more foreign exchange will be earned.
According to the sources of the Ministry of Finance, development spending will have an impact on foreign currency, petroleum products, depreciation of the rupee, import goods becoming more expensive, the trade deficit will be reduced due to the reduction in demand.
It should be noted that the purpose of determining the dollar rate for a financial year is to estimate foreign aid, payments and loans in rupees.
