Guided and supported by State Bank of Pakistan, Forex Association of Pakistan has taken the much-needed step to arrest the unwarranted slide of rupee against US dollar. Forex Association of Pakistan is now fixing and releasing the daily rates for trading of US dollar in open currency market. FAP is also said to be released rates three times in a day to facilitate exchange companies in line with the demand and supply situation of the market.
Any further rise in US dollar value against rupee will certainly lead to a sharp price escalation in prices of numerous goods and services in particular.