• No more ‘premiums’ on dollar sale
• Bankers say ‘artificial rates’ could encourage ‘blackmarketing’ of foreign currency

KARACHI: Banks and exchange companies are facing mounting pressure to lower the dollar rate below prevailing market levels, according to sources in the financial sector.

An important meeting in Islamabad on Monday, involving senior officials from the State Bank of Pakistan (SBP), the Ministry of Finance, and bankers, discussed measures to stabilise the exchange rate and reduce the dollar’s price.

However, some bankers expressed reservations, noting that the government’s desired exchange rate does not reflect natural market conditions. “There is no clarity on the specific dollar rate the........

© Dawn Business