Pakistan has come up with a new experiment to contain surge in the US Dollar price in open market

Pakistan has come up with a new experiment to contain surge in the US Dollar price in open market

ISLAMABAD – Pakistan has come up with a new experiment to contain the surge in the US Dollar price in the open market.

The Currency Dealers Association has, after consultation with the State Bank of Pakistan, decided to determine the rate of dollar on daily basis to contain the surging value of dollar against rupee.

According to sources, the rate of dollar would be set thrice a day and the value of dollar would be set at Rs. 0.70 less than actual value. Today the rate of dollar would be 118.70.

Forex association has also decided to fine any dealer who does not comply with the new guidelines.