Karachi: Chairman of the Exchange Companies Association of Pakistan (ECAP), Malik Bostan, has said there are strong chances that the US dollar could fall below Rs250 against the Pakistani rupee, driven by rising defence exports and renewed confidence in the country’s economy.
Speaking during a private TV programme, Malik Bostan said that around 15 countries have shown interest in purchasing JF-17 Thunder fighter jets, developed by the Pakistan Air Force in collaboration with China. He said potential export deals could bring in substantial foreign exchange, easing pressure on the rupee.
The ECAP chairman said multiple factors are supporting the improving outlook of the local currency, including a significant increase in defence exports, growing global demand for the JF-17 aircraft, and a strong recovery in the Pakistan Stock Exchange.
He added that a stronger rupee could help reduce import costs, particularly for fuel and essential commodities, providing relief to consumers and businesses alike. Lower dollar rates may also help curb inflation and improve overall market confidence.
However, analysts caution that while defence exports and positive market sentiment are encouraging, sustained currency stability will depend on consistent export growth, foreign investment, and sound economic policies.
Market watchers say the coming weeks will be crucial in determining whether the rupee can maintain its upward momentum and bring lasting relief to Pakistan’s economy.