ECAP says rising US dollar rate in open market swaying people towards hawala and hundi

Karachi: Exchange Companies Association of Pakistan (ECAP) reported a disparity between the dollar rate on Wednesday which was Rs107.30-60 in open market compared to Rs105.38-48 in the inter-bank market. The higher differential between open and inter-bank market rates gives sway to illegal transactions via the hundi and hawala system, reported a local newspaper. According to Read More