Exchange companies’ dollar sales jump 30pc

Exchange firms' dollar sales jump 30pc.

Key points

• Shahid Iqbal Published September 9, 2026 Updated September 9, 2026 07: 28am.
• The exchange firms collectively sold $479.5m in 2MFY27, up from $465.5m in 2MFY26.
• Nevertheless, July saw a decline to $230.7m, down from $290.6m in the corresponding month last year.
• Pakistan expects higher remittances in FY27, with the target set at $44 billion against an inflow of $41.5bn in FY26.
• "There could have been $50m more inflows during July-Aug this year had the Kashmir situation not been disrupted by political conflicts, " remarked Malik Bostan.

Shahid Iqbal Published September 9, 2026 Updated September 9, 2026 07: 28am. Join our Whatsapp Channel. Add Dawn as a trusted source.

KARACHI: Exchange firms' dollar sales to banks climbed by 30 per cent year-on-year in August, indicating higher inflows.

Data from the Exchange Firms Association of Pakistan (ECAP) demonstrated these firms sold $248.7 million to banks in August, up from $174.9m in the same month last year.

Pakistan has remained unaffected by the Gulf war as far as remittances are concerned, but reports in the media that Pakistani workers are being sent back home from Gulf countries have caused fear. ECAP reports $248.7m sold to banks in August.

While the market fears a shock if the war continues to drag on in the region, the administration has additionally observed the situation. Pakistan is already struggling to manage high oil rates, the main victim of the war.

For context, the August inflow could be higher if the disturbance in Kashmir were fully controlled. Nevertheless, Malik Bostan, Chairman ECAP, stated the situation has begun to normalise in Kashmir and inflows have rose.

While partial internet access has already been restored, he remarked the ECAP has officially requested the State Bank to allow internet access throughout the entire Kashmir.

For context, the exchange firms collectively sold $479.5m in 2MFY27, up from $465.5m in 2MFY26.

Nevertheless, currency experts stated the prolonged war has changed the economic situation throughout the Middle East. Gulf countries are desperate since they cannot sell their only income-generating product, oil.

"The UAE was the most thriving economy in the region, but the situation has changed its economy; now the country is trying hard not to expel expatriates, which may paint a bleak picture of Dubai, " remarked a currency expert. Published in Dawn, September 9th, 2026.

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Shahid Iqbal is a reporter for Dawn based in Karachi with 38 years of experience covering politics and economics. As well as roles at United Press International (UPI) and AFP, his career includes seven years with the Japanese newspaper Asahi Shimbun.

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