KARACHI: The volatility in exchange rates will settle in coming days owing to stable political conditions after formation of new government.
This was stated by Malik Bostan Khan, Chairman, Forex Association of Pakistan (FAP) on Saturday. He said stable political conditions will help the country to overcome economic challenges.
He urged general public to avoid purchasing foreign currency unnecessarily because dollar rates would be eased in coming days.
He also advised the public that unnecessary buying will pressurize the local currency and will also impact the availability of foreign exchange in the market.
In the open market the rupee was remained stable against dollar as dollar’s buying and selling was recorded at Rs121.50/Rs122.50 as compared with Friday’s closing of Rs121.30/Rs122.50.