The Chief Executives of all
Exchange Companies &
Exchange Companies of ‘B’ Category
Allowed Buying/Selling Spread of major foreign currencies
Attention of the Exchange Companies (Both A & B Category) is invited to FE Circular No. 9 of 2002, FE Circular No. 6 of 2004 and other instructions requiring exchange companies to observe rules and regulations while conducting foreign exchange transactions.
It has now been decided that the maximum spread allowed between the buying and selling rates of foreign currencies must not exceed twenty-five (25) paisas, at any given time. It is reiterated that notice/display board accurately declaring the prevailing exchange rates applicable for respective currency sale/ purchase/ transfer must be displayed at a prominent place in each branch/CEB/franchise.
Furthermore, Exchange Companies’ Head Offices shall submit daily consolidated report to Exchange Policy Department as per the enclosed Annexure-I.
Please bring the above contents to the knowledge of all your constituents..