Karachi September 6 2022 SBP has decided that effective September 7, 2022, Exchange Companies shall seek previous blessing from SBP for similar import of USD currency notes and the Intended date should not be beyond two days from the date of request submission.
State Bank of Pakistan allowed Exchange Companies on August 15, 2022 to export USD currency notes on consignment base through weight or Security Company to divert the inflow of foreign exchange mustered by them towards interbank request.
Gap between Interbank and Open request exchange rates widen to unknown position of 12 Rupees against the Bone. Bone in the interbank close at221.42 as pre SBP data after cheapening0.7 in moment’s trading while bone
in the Open Market recorded at233.5 against Bone according to Forex Association.
“ Credit cards and significances of onions and tomatoes from Iran and Afghanistan increased demand for bones
” says Malik Bostan President Forex Association of Pakistan.
He added, “ The rate of LCs in interbank is commodity and the bone
rate of payment of credit cards is commodity differently. ”
Currency dealers claim that “ Banks are dealing bones
for credit card payments at Rs 235 ”.