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A top currency dealer, with one of the largest networks in the country, said the dollar was sold as high as Rs148, while he was buying it at Rs146.50. He attributed this to various causes, including the continuing expectation of rupee devaluation and approaching Ramazan. The State Bank told Dawn later in the evening that it was unaware of any decision about a crackdown. In a video call to brokers at the Pakistan Stock Exchange, he did his best to rule out further devaluation. Government has directed FIA to launch a full fledged operation against Dollar hoarding, and speculative currency trade the operation is being launched in coordination with State Bank and ministry of Finance, he wrote.
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