KARACHI: The Pakistani rupee ended one paisa weaker against the United States (US) dollar in the interbank currency market on Tuesday.
According to the State Bank of Pakistan (SBP), the Pakistani rupee closed at Rs178.05 against the greenback, depreciating one paisa compared to the previous close of Rs178.04.
Last week, the State Bank of Pakistan (SBP) tightened the rules governing the sale and purchase of foreign exchange in an effort to discourage “speculative” buying and selling of the US dollar.
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According to a notification issued by the central bank, all exchange companies will have to ensure that no individual purchases foreign exchange of more than $10,000 per day and $100,000 (or equivalent in other currencies) per calendar year, in the form of cash or
outward remittances.
Exchange companies are required to obtain supporting documents against the sale of foreign exchange in excess of $1,000 (or equivalent in other currencies) substantiating the purpose of transaction.
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