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040520
STATE BANK OF PAKISTAN - EXCHANGE POLICY DEPARTMENT
Circular Letter No. 05 /EPP.1 (95) EC-Policy-2004
May 20, 2004
The Head Offices/ Principal Offices of all Exchange Companies.
Dear Sir,
Restriction on Import of Equivalent US Dollars Against Export of Foreign Currencies Other Than US Dollars.
Attention of Exchange Companies is invited to the meeting of their representatives with the Governor, SBP, held on May 08, 2004 wherein it was decided that from onwards, Exchange Companies would credit to their Nostro Accounts the equivalent US Dollars against export of currencies other than US Dollars. In terms of the said decision, you are advised to ensure that against export of currencies other than US Dollar, instead of importing equivalent US Dollars Cash, the said amount should directly be credited to your Nostro Accounts.
Yours faithfully
(Syed Samar Hasnain)
Joint Director
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