According to Pakistan Tech News , the State Bank of Pakistan has issued new and stricter guidelines to control cash dollar transactions. The SBP states that undocumented cash flows into the market were putting pressure on the exchange rate, while illegal trading and parallel market activities were also emerging. To stabilize this situation, it will now be mandatory to record and verify every cash dollar transaction.
According to Pakistan Tech News, the State Bank has instructed all money exchangers to collect detailed data on every customer—including their CNIC, transaction amount, and purpose of purchase. All this information will now be updated digitally on the SBP portal to improve monitoring and transparency. Any dealer or exchange company that fails to comply with this system could face both audits and penalties.
Market analysts told Pakistan Tech News that in recent days, cash dollar activity had been reported to have reached abnormal levels. Some people were manipulating the rate by creating artificial shortages, which was directly affecting the public and businesses. The SBP’s move is aimed at weakening the parallel market and strengthening the documented forex system.
Pakistan Tech News also says that while traders may experience some restrictions in the short term, this policy could help make the market more stable and transparent in the long term. If implemented successfully, the dollar rate is also expected to improve.
The SBP’s enforcement team has begun monitoring, and Pakistan Tech News will closely monitor the situation and keep readers informed of any new updates.
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