Remittances from overseas Pakistanis have doubled during the last 10 days of Ramazan, and are expected to be around $2 billion during the holy month.
The flood of dollars through banking channel and exchange companies produced a fine equilibrium between the interbank and open market where dollar price remained steady around Rs99 with marginal fluctuations during the month.
However, this stability is not because of higher remittances alone; the rising reserves of the State Bank also played key role to keep the dollar pegged below Rs100.
