KARACHI: Exchange companies revealed on Saturday that they sold as much as $6 billion to banks during the just-concluded FY26.
Pakistan received a record $41.6bn in remittances in 2025-26, strengthening the economy by becoming a major source of foreign exchange.
“The inflows through the exchange companies were in the range of $5-$6bn during the FY26,” said Zafar Paracha, General Secretary, Exchange Companies Association of Pakistan. He said on average the exchange companies had been selling about $500 million per month.
However, the State Bank has closed down at least five exchange companies in FY26 for violations of its rules and regulations. One of the exchange companies recently surrendered its licence to do business.
“The exchange companies are over-regulated by the State Bank, which made it difficult to carry on business and remain in profit.
