All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

EXPORT PROCEEDS

Your attention is invited to para 2 of F.E Circular No 51 dated the 13^th November, 1998 read with para 9 (iii) of F.E.Circular No. 8 dated the 8^th may, 1999.

It has now been decided that with immediate effect export proceeds may be held in Special Exporter’s Account upto three working days only for the purpose of sale to an Authorized Dealer.

You are advised to note these instructions carefully and immediately convey the same to your branches authorized to deal in foreign exchange.

Other instructions remain unchanged.

Please acknowledge the receipt.