IMPORT OF CASH US DOLLARS AGAINST EXPORT OF PERMISSIBLE FOREIGN CURRENCIES
EPD Circular Letter No. 01 of 2018 Jan 01, 2018
The Presidents/Chief Executives of all
Authorized Dealers in Foreign Exchange
Dear Sirs / Madam,
Import of Cash US Dollars against Export of Permissible Foreign Currencies
Attention of the authorized Exchange Companies is invited to EPD Circular Letter No. 16 dated July 27, 2015, EPD Circular Letter No. 05 dated March 31, 2016 and related instructions on the subject whereby Exchange Companies have been allowed to import cash US Dollars against export of permissible foreign currencies upto December 31, 2017.
2. It has been decided that Exchange Companies can continue to import cash US Dollars against export of permissible foreign currencies unless advised otherwise. However, total import of cash US Dollars shall not exceed 35% of total export of permissible foreign currencies during a month.
3. All other terms and conditions on the subject shall remain unchanged.
4. Failure to comply with the above instructions will attract strict regulatory action under related rules & regulations.
Encl: As above