No one will be able to buy ہزار 10,000 a day and more than لاکھ 100,000 a year, SBP (Photo: File)
Karachi: The SBP has taken another important step against dollar speculation by tightening foreign exchange rules, saying that no one can be sold for more than US 10 10,000 a day.
The daily limit has been fixed for all the exchange companies, while the limit for purchasing dollars and other currencies per person has been fixed at one lakh dollars per year. The daily and annual limit will also apply to cash purchases and remittances.
According to the SBP, the annual remittance limit for education abroad has been set at ہزار 70,000. علاج 50,000 per invoice for overseas treatment. Exchange companies must ask for the relevant documents for the sale of one thousand dollars.
The buyer must also provide a reason for purchasing up to ڈالر 1,000 in foreign currency. Currency will not be provided to another person in exchange for an authority letter. Exchange companies will only sell foreign currency from their authorized outlets. Delivery of foreign currency to homes or offices will be restricted.
The SBP has said that as a result of these amendments, the exchange companies should ensure that no one receives US 10,000 10,000 in daily cash or external remittances and US ایک 100,000 in a calendar year (or in other currencies). Will not purchase more than equivalent).
In addition, individuals will continue to receive overseas remittances of 70 70,000 and 50,000 50,000 per invoice for education and medical expenses, respectively, from banks under current regulations (see SBP circular for details) in a calendar year. ۔
According to the SBP, individuals can approach the Foreign Exchange Operations Department of SBPBSC through their bank for remittances beyond these limits or for other purposes. In addition, there has been no change in the rules regarding individuals’ foreign currency accounts.
Exchange companies will obtain supporting documents on sales of more than US 1,000 1,000 (or equivalent in other currencies) indicating the purpose of the transaction. However, exchange companies will not transact on authority letters.
The guidelines further emphasize that exchange companies will only conduct transactions at the company’s authorized outlets and will not provide delivery services to customers.
