According to the Chairman Exchange Association of Pakistan, Malik Bostan predicts that the surge in US Dollar value is temporary and will reduce to Rs. 250 soon.
While having a conversation with Samaa TV, Malik Bostan stated that after the release of funds from IMF, the dollar’s price will reduce to Rs. 270 and later to Rs. 250. The rise in the rate of the dollar on Monday in interbank will be temporary due to the long-standing 6000 import containers in the interbank market and the opening of new import LCs.
He further revealed that the policies of the government regarding the inflows are highly encouraging, and the Exchange Companies Association is keeping a close eye on the trends.
Malik Bostan says that if the dollar value comes to Rs. 250 there is a high chance, the prices of petroleum will also drop below Rs. 240 along with other import items.
