Attention of Exchange Companies is invited to instructions contained in Para 9 (i), Chapter 3 of Exchange Companies Manual.

2.         In order to bring clarity in instructions related to buying of foreign currencies by Exchange Companies from banks, a new Para at serial 9 (i) (d) of Chapter 3 of Exchange Companies Manual is added as under, and existing Paras are re-numbered accordingly:
Para 9 (i) (d), Chapter 3:

“Buy foreign currency notes from banks and shall provide credit thereagainst in bank’s Nostro account”

3.         All other terms and conditions on the subject shall remain unchanged.

 

Encl: Updated Exchange Companies Manual