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SBP extends permission to import US Dollars

SBP extends permission to import US Dollars

KARACHI: State Bank of Pakistan (SBP) has extended permission to exchange companies to import of US Dollars against export of other foreign currencies.

The SBP on Monday issued a circular inviting attention of authorized exchange companies related to instructions on import of US Dollars whereby exchange companies had been allowed to import cash US dollars against export of permissible foreign currencies up to December 31, 2017.

The central bank said it is decided that exchange companies can continue to import cash US Dollars against export of permissible foreign currencies unless advised otherwise.

However, total import of cash US Dollars shall not exceed 35 percent of total export of permissible foreign currencies during a month.