September 26, 2023
Banking International

Forex Firms ‘Depositing $10m In Banks Daily’

The uncapping of the dollar rate has begun resulting in favorable outcomes with panic selling of export earnings meeting pace in the last three days.

Meanwhile, trade corporations have also started up putting aside up to $10 million a day in banks.

Sources in trade corporations and banks said liquidity has enhanced substantially due to the inflow of export earnings, elevated remittances and elimination of theoretical trading.

Exporters who were once unwilling to sell their holdings have eventually realised that the dollar’s speculative level is reaching down.

Leave a Reply

Your email address will not be published. Required fields are marked *