KARACHI: Pakistani traders misusing Afghan Transit Trade by importing about $2 billion worth import monthly, claimed by Malik Mohammad Bostan, Chairman Exchange Companies and Forex Association of Pakistan at a press conference on Monday.
KARACHI: Malik Mohammad Bostan, President, Forex Association of Pakistan (FAP) on Monday informed Prime Minister Shehbaz Sharif that banks are increasing dollars rate. Prime Minister Shehbaz Shari, in a Zoom meeting with FAP President, expressed concerns of significant devaluation of Pakistan Rupee (PKR) and asked reasons behind the recent fall of rupee against the dollar. […]
KARACHI: Forex Association of Pakistan (FAP) on Monday demanded the government of allowing US dollar exchange without the condition of Computerized National Identity Card (CNIC) in order to ensure sufficient supply of the foreign currency. In a statement issued by FAP President Malik Mohammad Bostan said an estimated amount of $3 billion were taken at […]
People have an undeclared amount of $2 billion to $3 billion foreign currency in their homes and personal bank lockers. They want to exchange with Pakistani Rupee (PKR) but due to certain restrictions they are unable to bring it out. The government should provide legal shelter for declaration of concealed dollars, which will help to […]
KARACHI: The Pak Rupee gained 20 paisas in open market on Saturday owing to monitoring launched by exchange companies after meeting with State Bank of Pakistan. The buying and selling of dollar was recorded at Rs142.30/Rs142.80 from previous day’s ending of Rs142.50/Rs142.50 in cash ready market. The representatives of Forex Association of Pakistan (FAP) held […]
KARACHI: Foreign exchange companies have decided to stop sale of dollars except for needy customers for education, health and Hajj, said Malik Bostan, President, Forex Association of Pakistan (FAP) on Friday. The representatives of FAP today again held a meeting with Syed Irfan Ali Shah, Executive Director of State Bank of Pakistan (SBP) to discuss […]
KARACHI: State Bank of Pakistan (SBP) has said that the rupee value to stabilize as large payment was made last week. Talking to representatives of Forex Association of Pakistan (FAP) on Thursday, Executive Director of SBP Syed Irfan Ali Shah said that last week large payments made last week and now the local currency would […]