Karachi: Bank State of Pakistan (SBP) has taken another important step towards speculation of the dollar by tightening its foreign exchange rules.
The daily limit has been fixed for all exchange companies, while the limit to buy dollars and other currencies per person has been repaired at one lakh dollar per year. Daily and annual boundaries will also apply to cash purchases and shipping.
According to SBP, the annual money transfer limit for education abroad has been set at ہزار 70,000. علاج 50,000 per invoice for overseas care. Exchange companies must request relevant documents for sales of one thousand dollars.
Buyers must also provide reasons to buy up to 1,000 $in foreign currencies. The currency will not be given to others in exchange for authority. Exchange companies will only sell foreign currencies from their official outlets. Delivery of foreign currencies to home or office will be limited.
SBP has said that as a result of this amendment, the exchange company must ensure that no one receives us 10,000 10,000 in daily cash or external money delivery and our 100,000 in one calendar year (or in other currencies). Will not buy more than equivalent).
In addition, individuals will continue to receive overseas remittances of 70,000 and 50,000 50,000 per invoice for education and medical expenses, from banks under current rules (see SBP circular for details) in one calendar year). .
According to SBP, individuals can approach the SBPBSC foreign exchange department through their banks for shipping money outside this limit or for other purposes. In addition, there has been no change in the rules regarding individual foreign currency accounts.
Exchange companies will obtain sales support documents of more than US 1,000 1,000 (or equivalent in other currencies) that show transaction goals. However, exchange companies will not transact on authority letters.
Further guidelines emphasize that exchange companies will only conduct transactions at the company authorized outlet and will not provide shipping services to customers.
