SBP directs banks, exchange companies to accept all dollar notes
KARACHI: State Bank of Pakistan (SBP) has instructed money exchange companies and banks to accept all kinds of dollar notes, citing sources ARY News reported on Tuesday.
Sources said that commercial banks were not accepting old design dollar notes due to which the people were facing problems.
The money exchange companies, taking advantage of the situation, were returning less amount to the people over the old design dollar notes.
The central bank has ordered the commercial banks and money exchange companies to accept all kinds of dollar notes.
SBP officials have also met representatives of the exchange companies to discuss the matter with them.
The central bank officials have clarified to the banks and foreign exchange companies that the State Bank keeping a close eye on the situation.