Due to strict monitoring of exchange companies by the government and new regulations for the sale of other foreign currencies, including the dollar, the flight of the dollar in both the foreign exchange markets remained suspended for the second day on Friday.
In the open currency market, the dollar fell below Rs 171 and the open market rate of the dollar fell another 30 paise to close at Rs 171. Similarly, the interbank market dollar lost 34 paise to close at Rs 170.53.
Meanwhile, Secretary-General of the Exchange Companies Association Zafar Paracha said that the new measures taken by the SBP to curb unnecessary remittances of foreign currency are yielding positive results which have not only stopped the depreciation of the rupee but also the smuggling of dollars. Will be overcome.
The new SBP initiatives have met the long-standing demand of exchange companies and will help meet the remaining FATF requirements.
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