The State Bank has extended the date for the import of cash dollars against the export of foreign currencies.
The SBP issued a circular on Friday in this regard. Earlier, the Exchange Companies were allowed to import cash US dollars up to 50 per cent of their export consignments’ value until December 31, 2023.
The circular states, “In order to address the need for an adequate supply of cash US dollars in the open market, the validity of the above instructions is extended till June 30.” This extension is aimed at maintaining a balanced supply of cash US dollars in the open market.