Due to the crackdown, the prices of sugar in the country are decreasing, the foreign currency changers should be protected instead of harassing, Chairman Forex Exchange Association talks.
Malik Bustan says that the dollar will reach 290 rupees in the next few days. According to the details, President Pakistan Forex Exchange Association Malik Bustan has said that he congratulates the Army Chief on the crackdown, the Army Chief took the initiative which should have been taken by the civil government. Due to the crackdown, the prices of sugar are decreasing in Pakistan today, the prices of electricity and petrol will also decrease and the dollar rate is continuously decreasing.
He said that if the operation continues and the smuggling stops, the dollar can go up to 250 dollars. This month, a large number of dollars came to the counters of exchange companies to be sold, 50 million dollars will be able to be deposited in the State Bank. He said that because of the crackdown, 20 million dollars are expected to be deposited in the banks every day. If the operation and crackdown continues, the dollar may go down further.
Exchange companies complained that house-to-house checks were being conducted on dollar sellers, prompting the government to create a portal to register numbers of foreign currency sellers. Malik Bustan said that those who came to sell foreign currency should be facilitated. Instead of harassing the foreign currency changers, they should be protected.
It should be noted that the dollar became cheaper against the rupee in the interbank market, while the value of the dollar remained stable in the open market. According to the report of Forex Association of Pakistan yesterday, the dollar became cheaper by 2 rupees compared to the rupee in the interbank market, which reduced the value of the dollar from 302 rupees to 300 rupees, but the value of the dollar remained at the level of 300 rupees in the open market.