There is good news for credit card users outside the country.
If you make a purchase by credit card abroad, you must pay according to the dollar interbank rate.
Payment for online purchases will also be made at the interbank rate, State Bank has allowed till 31 July 2023.
Credit card payments used to be made at this earlier open market rate, today the US dollar is worth Rs 285 35 paise in the interbank market, compared to Rs 311 in the open market.
State Bank of Pakistan (SBP) has allowed credit card settlement to buy dollars at the interbank rate.
Permit to buy dollar interbank rate for credit card transactions was given after stakeholder consultation.
SBP has written to the presidents and chief executives of banks, saying that authorized dealers have been allowed to buy interbank dollars for settlement of card base transactions.
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