KARACHI
In order to stop the increasing value of the dollar in the open market, the administration cracked down yesterday and law enforcement officers in plain clothes were posted outside the exchange companies across the country.
Later in the open market, the value of the dollar decreased significantly by 7 rupees.
However, an increase in the value of the dollar was seen in the inter-bank and the dollar rose to the level of Rs 307 from Rs 305.
According to the details, due to the administration’s crackdown in the open market yesterday, the dollar rate fell and law enforcement officials in plain clothes were posted outside the exchange companies across the country.
Law enforcement officials are said to be keeping an eye on people buying and selling dollars at exchange companies.
Chairman of Forex Association Pakistan, Malik Bustan, said that we have requested the administration to post officers in plain clothes outside the exchange companies. They catch black mafia, those who disturbs people come to buy and sell dollars in exchange companies from outside.
After the appointment of officials by the administration, the rate of the dollar in the open market dropped significantly, at this time there is an abundance of dollars in the market, there are more sellers of dollars and fewer buyers. The black mafia agents in the market daily were buying dollars through which pressure was building, black mafia agents have gone underground due to the crackdown.
On the other hand, the Secretary General of Exchange Companies, Zafar Paracha, has expressed his reservations about the appointment of plainclothes officials and said that we have filed a written complaint with the State Bank in this regard.
Meanwhile, in the open market yesterday, after a significant decrease of 7 rupees, the dollar decreased from 327 to 320 rupees, while the value of the dollar increased by 1.46 rupees to 307.10 rupees from 305.64 rupees in the interbank market, the selling price of the euro decreased by 15 rupees to 338 rupees. And the British pound fell by Rs 17 to trade at Rs 395.
