Businessmen have urged the government to control dollar flight besides bridging the gap between inter-bank and open market exchange rates. “A widening divide between inter-bank and open market dollar rates and an uncontrolled dollar flight are posing a new challenge to the trade, industry and economy,” said Lahore Chamber of Commerce and Industry (LCCI) President Kashif Anwar in a statement. While calling it an alarming exchange rate gap, he stressed that it was causing significant economic repercussions and adversely affecting the competitiveness of various sectors. Citing examples of regional economies, the LCCI chief said that the difference between inter-bank and open market dollar rates in India was INR 0.13252, in Bangladesh, it was 0.25 taka and in the UAE it was AED 0.0006. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Source: The Express Tribune September 03, 2023 14:14 UTC