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 13th November, 1998
read with para 9 (iii)
of F.E.Circular No. 8 dated the
8th 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.