Amazing reform: now buying USD will take >5 days, paperwork, biometrics & no cash. Bonus plot twist-SBP just handed bank-owned exchange co.s a VIP pass to the market while independent ones can die in peace. Black mkt rate spike is another outcome. Policy innovation at its finest.
The State Bank of Pakistan mandates account-to-account transfers for cash dollar transactions to promote a cashless economy, limiting individual cash purchases and streamlining deposits into foreign currency accounts. https://t.co/i6TyAiU0LY