Foreign Exchange Companies Association’s decision to end the dollar rate cap

Foreign Exchange Companies Association’s decision to end the dollar rate cap


From tomorrow we will offer the black market rate to reduce the difference between the dollar rate in the black market and the open market: Malik Bustan — Photo: File

The Foreign Exchange Companies Association has decided to end the dollar rate cap, the selling price of the dollar has been set at 255 rupees and the buying price at 253 rupees.

Chairman of the Exchange Companies Association, Malik Bustan, has said that in the interest of the economy, he decided to cap the dollar rate in the open market, but it had the opposite effect.

While talking to Shahzeb Khanzada on Geo News program today, he said that our remittances and exports have reduced, it will not happen from now on, from tomorrow we will offer black market rate so that dollars in black market and open market. Rate difference can be reduced.

He said that the official procedure in this regard will be decided in today’s meeting with the State Bank.




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