The important decision of the State Bank to increase the supply of dollars

 The important decision of the State Bank to increase the supply of dollars

In order to increase the supply of dollars, the State Bank has taken an important decision, money changers have been allowed to order dollars in cash form from abroad.

The State Bank has issued a circular amending the Exchange Companies Manual according to which money changers will be able to import cash dollars against foreign currency exports.

The circular states that exchange companies will be allowed to import 50 percent of the value of the exported currencies in cash while the remaining 50 percent of the exported currencies will have to be brought into the foreign currency account of the exchange companies in banks.Earlier, the exchange companies had to bring all the dollars into the bank account in exchange for the foreign currencies exported.

According to the circular, money changers have been allowed to import cash dollars till December 31, 2023.

The currency dealer says that dollars will be imported in the form of cash from Bahrain, Singapore and Dubai through cargo securities companies.