The State Bank of Pakistan (SBP) on Friday directed all the exchange companies to control the dollar in open market and further allowed them to import dollar if needed, the spokesman of the State Bank of Pakistan (SBP) said while talking to Pakistan Today.
Despite the efforts of State Bank of Pakistan (SBP) to control the greenback in the kerb market, it traded at Rs 104.20 on Friday widening gap between Interbank and Kerb markets to Rs 2 per dollar.
“Taking notice of increasing dollar rates in the open market, the SBP director convened an urgent meeting of all the directors of exchange companies on Friday in which they were asked to overcome the greenback,” the spokesman said.
The spokesman said: “The SBP is closely monitoring the exchange companies and it further asked them to import dollar from abroad to meet the local demand.”
The central bank has allowed all exchange companies (A category) for importing dollar from Dubai and other neighboring Gulf countries as the dollar rates are continuously out of control and moving upward direction in Kerb market.
The market experts claim that the greenback is going up in the open market because of the Haj flights started last Monday.
