Exchange Companies Association of Pakistan (ECAP) Malik Bostan has said that the US Dollar could fall significantly against the Pakistani Rupee following a crackdown on currency smugglers.
Speaking on a TV program, the ECAP chairman said that following the crackdown, the dollar is expected to drop to the Rs. 280 level and potentially as low as Rs. 270.
Bostan also claimed that there had been an issue with dollar availability in recent days, but said that the issue has now been resolved and that dollars will now be easily available at exchange companies.
Yesterday, Reuters reported that a senior official from Pakistan’s intelligence agency met with currency exchange companies this week amid a decline in the rupee, prompting a crackdown on black market dollar trading.
On the contrary, in a recently conducted poll, some analysts said they believe that rupee could slide to over 300 against the dollar by December 2025. However, majority of analysts expect currency in range of Rs. 285-290 by December.
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.