The dollar rate has fallen below Rs160 after nearly 25 weeks as experts say the gray or informal market has been squeezed to bring dollars into the banking channel. Exchange Companies Association of Pakistan (ECAP) General Secretary Zafar Paracha the demand for dollars has declined in the country, which has in turn brought the dollar rate down. Exchange companies are now buying dollars for Rs159.8 in the open market. They are selling the greenback at Rs160.1. One month ago, the dollar was selling at Rs165.7 in the open market. The last time the dollar traded below this level was on May 15. Paracha added that the State Bank of Pakistan has taken initiatives that have also pav
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