KARACHI, Oct 31: The State Bank has asked all banks to provide additional information regarding the foreign exchange transactions.

Authorized dealers are required to submit data of foreign exchange transactions to the Statistics and Data Warehouse Department on floppy diskettes up to 10th of each month. The data on trade (exports and imports) include information on commodity, country, currency, transaction type (Import / Export), and amounts, etc.

“In order to enhance the utility of the said data for policy formulation and financial planning, the existing format of foreign exchange returns has been revised to include additional information on quantity, unit of the commodity, mode of trade and price per unit,” said a SBP circular issued on Tuesday.

Schedules of exports and imports have also been revised. The revised schedules, code list of units for quantity and mode of trade and revised reporting software can be obtained from the Statistics and Data Warehouse Department or can be downloaded from the State Bank website at link http://www. sbp.org.pk/fe_returns/index.htm.

Consequently, authorized dealers were advised to supply the floppy diskette containing monthly foreign exchange data with additional information starting from the month of November 2006 and onwards to the concerned department under the revised format by the due date for submission of these returns i.e. 10th of the following month.

The authorized dealers were advised to properly record the additional information for all imports and exports at the time of transaction for onward supply of the same to the State Bank of Pakistan.