Pakistan Reports 30% Jump in Bank Dollar Sales Amid Economic Shifts

Exchange companies’ dollar sales jump 30pc

KARACHI: Exchange companies’ dollar sales to banks increased by 30 per cent year-on-year in August, indicating higher inflows. Data from the Exchange Companies Association of Pakistan (ECAP) showed these companies sold $248.7 million to banks in August, up from $174.9m in the same month last year. However, July saw a decline to $230.7m, down from $290.6m in the corresponding month last year. Pakistan has remained unaffected by the Gulf war as far as remittances are concerned, but reports in t...

By [email protected] (Shahid Iqbal)