To further enhance transparency and promote documentation in the foreign exchange transactions, the State Bank of Pakistan has advised the Exchange Companies that all foreign currency sale transactions of USD 2,000/- or above (equivalent in other currencies) against PKR should only be conducted through payment modes, such as bank transfer/cheques from the personal bank account of the customer.

This step also encourages the general public to use various banking channels, which are generally more secure, to fulfil their genuine foreign exchange needs.

Relevant instructions can be accessed at the following links: https://www.sbp.org.pk/epd/2022/FECL15.htm