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Pakistan facing shortage of US dollars

PTI | Last Updated: Monday, December 2, 2013 - 23:14

Islamabad: Pakistan is facing a shortage of US dollars in the kerb market leading to fluctuating exchange rates and rising concerns.
Finance Minister Ishaq Dar took notice of the shortage of dollar notes with exchange companies and scheduled banks and directed the State Bank of Pakistan (SBP) to ensure adequate supplies are made available in the market, said a statement from the Ministry of Finance.

It is said that the recent pressure on the exchange rate, particularly higher premium between inter-bank and open markets, is primarily due to shortage of dollar notes for which timely arrangements of imports could not be made by authorities.

SBP authorities assured the minister that there will be no shortage of dollar notes in the kerb market henceforth.

First Published: Monday, December 2, 2013 - 23:14

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