| KARACHI: The regular appreciation of the rupee has compelled exporters to sell their dollars in the banking market, which has helped the exchange rate remain stable, said sources in the financial sector.
The financial sector also noted another confidence boost with hopes attached to the Special Investment Facilitation Council (SIFC), as business delegations from Gulf countries have started visiting Pakistan to explore opportunities.
“The daily depreciation of the dollar is the root cause of selling dollars by exporters since even a 10 paisa [difference] matters for the huge inflows of export proceeds,” said Atif Ahmed, a currency dealer in the inter-bank market.
The market also witnessed forward selling of dollars by exporters. |
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