Malik Muhammad Bostan, Chairman of the Exchange Companies Association of Pakistan (ECAP), has stated that despite India’s cowardly attack within Pakistani territory, the Pakistani currency market remains stable, and the rupee has not weakened. He said, “We are capable of providing the government with one billion dollars per month in case of war or emergency.”

Speaking to the media about the tense situation with India, Malik Bostan said there were no buyers for the dollar in the open market. Despite the tension, exchange companies sold ten million dollars in the interbank market. “There is no panic in the currency markets,” he emphasized.

The ECAP Chairman further stated that they are currently providing 25 million dollars daily to the interbank market, and in the event of an emergency, they can supply up to one billion dollars monthly to the government. He praised the Pakistani armed forces, saying, “The way our military responded has crushed India’s arrogance. We salute the Army Chief and all our forces— the entire nation stands with them.”

Bostan added that as soon as flight operations return to normal, the inflow of dollars will increase. He mentioned that the US dollar rate has not increased due to the Pakistan-India tensions. The State Bank has purchased 9 billion dollars over the past two years to maintain a stable exchange rate, while exchange companies provided 6 billion dollars to the interbank market last year.

He also stated that if the government desires, monthly remittances can increase from 4 billion to 8 billion dollars. According to him, the real value of the dollar is 250 rupees, but due to IMF pressure and exporters, the rate is not being adjusted downward. Malik Bostan said the government will soon link exchange companies to the PRI (Pakistan Remittance Initiative) system.