Attention of the Authorised Dealers / Authorised Money Changers is invited to the Foreign Exchange Manual as amended from time to time trough F.E. Circulars, in terms of which Authorised Money Changers have been allowed to undertake purchase of foreign currency notes / coins / travellers cheques from the sale of foreign currency notes / coins to the public under licences issued to them by State Bank of Pakistan under the Foreign Exchange Regulation Act, 1947. In exercise of the powers conferred on the State Bank of Pakistan under the Foreign Exchange Regulation Act, 1947 all the licences issued to the Authorised Money Changers are suspended effective from the close of business on 28th May, 1998 till further orders.

2. The foreign currency notes / coins / travellers cheques held by the Authorised Money Changers as at the close f business on the 28th May, 1998 will be surrendered to an Authorised Dealer on the 30th May, 1998 at the exchange rate (buying) quoted by the concerned Authorised Dealer on the 30th May, 1998. The details of the balances so surrendered will be advised by the Money Changers to the Additional Director, Policy Division, Foreign Exchange Department, State Bank of Pakistan, Central Directorate, Karachi by the close of business on the 30th May, 1998.