From : DAWN
50% Drop in Dollar Sales: Currency dealers report that money changers’ sales of dollars have dropped sharply—by half—this month.
Grey Market Resurgence: A possible reason is the reemergence of the grey market, where buyers are reportedly offering higher rates for dollars than the official open market.
Stable Remittances: Despite this shift, remittances remain strong, with $3.2 billion received in July—a positive for the external account.
Exchange Rate Concerns: The reduced supply of dollars in the open market could destabilize the rupee, especially if demand continues to rise in the informal market.