No more dollars

February 01, 2023

The US dollar exchange rate is increasing each day and squeezing the life out of industries, businesses and even government organizations, to say nothing of its devastating impact on households. The US dollar is becoming expensive because of speculative buying by local Pakistanis. The ease with which dollars are being bought and sold has made the exchange rate highly volatile.

I want to ask the government what is stopping them from banning the sale and exchange of US currency? US currency is not an investment tool and is often used to facilitate tax evasion and money laundering. The government should announce the discontinuation of trading or holding of US dollars by resident Pakistanis after 30 days, allowing time for people to exchange their US dollars.

Engr Shahryar Khan Baseer