Exchange companies hit $7bn milestone in 2024

MG News | January 02, 2025 at 08:23 PM GMT+05:00

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January 02, 2025 (MLN): Pakistan’s exchange companies reached a remarkable milestone in 2024, processing a total volume of approximately $7.0 billion.

The statement was issued by Mr. Zafar Paracha, Secretary General of ECAP, who emphasized the sector’s critical contribution to the country’s financial ecosystem.

He further explained that exchange companies provided $3.85bn to the interbank market to strengthen Pakistan's foreign reserves.

Moreover, $3.15bn was dealt in the open market to support international travel, including Hajj and Umrah pilgrimages, payment of overseas university fees, family assistance, and medical treatments abroad.

Mr. Zafar highlighted that this accomplishment was made possible through the committed efforts of senior officers from the Pakistan Army and the SBP.

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