All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

EXCHANGE RATES

Effective 15th December, 1993 the State Bank of Pakistan will undertake  purchase and sale of U.S. Dollar from and to Authorised Dealers at the following rates :-

                BUYING PER U.S. DOLLAR                   SELLING PER U.S. DOLLAR

                 SPOT & FORWARD     FORWARD                                      FORWARD     FORWARD          

                      UPTO                         UPTO                            SPOT        UPTO             UPTO

                      6 MONTHS                 12 MONTHS                                    6 MONTHS    12 MONTHS                                             

                   30.1000                  29.1970                    30.2505     31.3793        32.5080

        2.        The revised rates at which Authorised Dealers will buy from and sell U.S. Dollar  to the public with effect from 15th December,1993 are as under :-  

               

                BUYING PER U.S. DOLLAR                  SELLING PER U.S. DOLLAR

                 SPOT & FORWARD     FORWARD                                   FORWARD     FORWARD          

                      UPTO                         UPTO                          SPOT        UPTO            UPTO

                      6 MONTHS                 12 MONTHS                                  6 MONTHS    12 MONTHS      

        T.T.      30.0699                   29.1669     T.T.&     30.2806      31.4094       32.5381
        Clean                                                      O.D

        O.D.   29.9710                   29.0680