The State Bank of Pakistan (SBP) has imposed a maximum limit on the spread between the buying and selling rates of foreign currencies in the open foreign exchange market.
“It has now been decided that the maximum spread allowed between the buying and selling rates of foreign currencies must not exceed 25 paisas at any given time,” it said in a statement.
The SBP has also asked exchange companies’ head offices to submit daily consolidated reports to its Exchange Policy Department as per the prescribed format.
Published in The Express Tribune, February 13th, 2013.
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