SBP takes notice of Exchange Rate volatility

The State Bank of Pakistan has called an urgent meeting of official of the Exchange Companies under the chairmanship of Syed Irfan Ali, Executive Director. The officials of Exchange Companies led by Mr. Zafar Parcha the General Secretary, Exchange Companies Association of Pakistan (ECAP).

The Executive Director, State Bank of Pakistan expressed his concern about increasing rates of US Dollar and stated that there is no justification for such an increase. He stated that there is no shortage of USD and the supplies of cash USD are available in any quantity with SBP and Exchange Companies. He also advised to refrain from the speculations/rumors and to avoid the unnecessary purchasing of US Dollar otherwise they will bear loss. The rate of US Dollar will come down. Mr. Zafar Paracha, General Secretary, ECAP ensures the regular supply of US Dollars in any quantity.