SBP lifts ban on forex exports


The State Bank of Pakistan (SBP) on Wednesday lifted a ban on the export of all types of foreign currencies except the US dollar after, what the SBP spokesman referred to as, a result of the stabilisation of the exchange rate. According to Exchange Companies Association of Pakistan (ECAP), the ‘good’ decision would help the country avoid smuggling of foreign exchange and a monthly loss of over $200 million that the money exchangers previously contributed to the exchequer before the ban. Detailed story -Page 24