Government acts to control Dollar rate in Open market

MG News | May 15, 2019 at 05:15 PM GMT+05:00

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May 15, 2019 (MLN): A high level meeting was held this afternoon at Prime Minister House to discuss the rising rate of the dollar in the open market, where it was quoted as high as 146 by some exchange companies.

Prime Minister met a delegation of the Exchange Companies Association of Pakistan (ECAP), which was led by Sheikh Allaudin, Malik Bostan, and Mr. Sheikh Mureed with DG FIA, DG IB, Chairman FBR and Governor SBP also in attendance.

During the meeting, it was agreed that the dollar would be traded at 143.50 for buying and Rs.144.00 for selling.

Furthermore, the buying and selling rate of the Saudi Riyal was set at 38.20 and 38.35, while the buying and selling rate of UAE Dirham was agreed at 39.05 / 39.20

Exchange companies were warned not to deviate from the agreed rate.

ECAP was advised and agreed not to stand by companies who either diverge from these rates or run dual set of rates or avoid providing receipts.

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