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Senate panel urges action against banks over dollar manipulation in 2022

A Senate committee has called for prompt measures against commercial banks accused of manipulating the US dollar exchange rate and issuing overpriced letters of credit (LCs) in 2022, resulting in a profit of Rs65 billion, reported The News. The Senate Standing Committee on Economic Affairs requested a comprehensive report within two weeks, insisting that representatives from business chambers participate in the next session to discuss the rising costs. This report should cover the LCs relea
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