SBP took a number of initiatives in response to the changing market dynamics. The business hours for the foreign exchange market were extended in January 2007, thus enabling the banks to cater to their customers’ needs more effectively.
In addition, the bases for calculating Foreign Exchange Exposure Limit (FEEL) of banks was revised from 10% to 15% of their paid-up capital in March 2007, which increased the overall exposure limit of the commercial banks from $ million to approximately $ thus facilitating banks to more effectively manage and price large volume transactions for their customers.