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Published 1 year ago

Exchange companies to remove cap on dollar rate from today

Summary by Ground News
The Exchange Companies Association of Pakistan announced that they would no longer be going forward with the dollar cap. The State Bank of Pakistan suspended 11 outlets of 8 exchange companies on Monday. The outlets were found guilty of hoarding dollars and violating the regulatory restrictions. However, Malik Bostan, Chairman ECAP told Profit, that it was a mere coincidence for these two events to occur one after the other.

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