SBP asks banks to provide details of import worth $500,000

MG News | September 24, 2021 at 11:59 AM GMT+05:00

0:00

September 24, 2021(MLN): The rising demand for the US dollar in the interbank market has forced the State Bank of Pakistan (SBP) to make another move.

In order to curb the free movement of the dollar, SBP has asked commercial banks to provide information about imports worth $500,000.

Moreover, the banks have also been asked to submit details about imports arriving in 5 days.

Prior to the revision, the banks had to submit information up to $1 million worth of imports along with import details of two days.

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