Sunday, June 29, 2025
-Advertisement-

Currency market ready to provide USD 1 Bln monthly if needed: Malik Bostan

- Advertisement -

Chairman of the Exchange Companies Association of Pakistan (ECAP), Malik Bostan, said that Pakistan’s currency markets remain stable and fully functional despite the current emergency and regional tensions.

He stated that the rupee held firm in the face of India’s “cowardly” actions and that there was no panic in the currency market. Speaking to headline.pk, Bostan said, “Today, there were no buyers for dollars in the open market, and exchange companies have sold $10 million in the interbank market so far.”

- Advertisement -

He added that exchange firms are currently supplying around $25 million to the interbank market on a daily basis, helping to stabilize liquidity. He stressed that if the situation escalates or an emergency arises, Pakistan’s exchange companies are in a position to provide the government with up to USD 1 billion per month. “This is our commitment to the country,” he said.

Commenting on the national sentiment, Malik Bostan lauded the response of the Pakistan Armed Forces. “Our military’s strong response has shattered India’s arrogance. We salute the Army Chief and the entire armed forces — the nation stands united behind them,” he said. Bostan further noted that as flight operations normalize, the inflow of dollars is expected to increase.

He reiterated that the currency market has shown resilience and confidence, and will continue to play its role in supporting the country’s economy.

- Advertisement -

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

 

 

Latest stories

-Advertisement-

Highlights of the Week
Related

Pakistan Condemns US Strikes on Iran, Calls for UN-Led Ceasefire and Diplomatic Resolution

Pakistan has issued a forceful condemnation of recent US...

Meezan Bank and IBA-CEIF Develop Future Islamic Finance Leaders Through Second Cohort of ‘Meezan Justuju’

Meezan Bank, Pakistan’s Premier Islamic bank, has successfully concluded...

Messe Frankfurt Boosts Pakistan’s Export Potential with 350 Exhibitors at Global Trade Shows

Messe Frankfurt, the world's largest trade show organizer is...

PSO and Partners Unveil Karachi’s Third Eco-Street, The Clifton Sabz Gali

Part of the “One Eco Street at a Time”...
-Advertisement-
Join our Whatsapp Group for Exclusive News!
Join our Whatsapp Group for Exclusive News!