SBP directs ADs to purchase export proceeds at market rate

News Image

MG News | April 12, 2023 at 12:26 PM GMT+05:00

0:00

April 12, 2023 (MLN): The State Bank of Pakistan (SBP) on Tuesday directed Authorized Dealers (ADs) to purchase export proceeds from exporters at the prevailing market exchange rate at the close of the retention period, the circular issued by the central bank stating new instructions for ADs said.

This move is aimed to ensure fair and transparent transactions for all parties involved.

Earlier, ADs were required to purchase export proceeds from exporters at least at the buying rate of the weighted average customer exchange rate if the proceeds were not converted into Pakistani Rupees (PKR) within the retention period.

"Authorized Dealers are advised to bring the above instructions to the knowledge of all their constituents and ensure meticulous compliance of the above instructions," the circular read. 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,195.00 120,695.00
116,660.00
-2040.00
-1.70%
BRENT CRUDE 68.98 69.41
68.60
-0.23
-0.33%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 106.50 0.00
0.00
-0.05
-0.05%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.62 67.13
66.27
-0.36
-0.54%
SUGAR #11 WORLD 16.37 16.51
16.25
0.07
0.43%

Chart of the Day


Latest News
July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May


July 15, 2025 at 04:22 PM GMT+05:00

SYS set for 71% profit surge on global tailwinds



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg