Currency Exchange

Currency Exchange Services at BOP Exchange

At BOP Exchange, we deal in all major foreign currencies across our outlets throughout Pakistan. Our competitive and up-to-date currency exchange rates ensure that our valued customers receive the best possible advantage in their transactions. Whether you are an individual, corporate, or executive client, we are committed to providing reliable and transparent currency exchange services tailored to meet your unique needs.

Our specialized services come with no extra fees and are supported by highly favorable exchange rates, giving you greater flexibility and convenience for your foreign currency requirements. As a key player in the foreign exchange market, our team of experienced specialists is dedicated to offering prompt, personal, and professional service.

Requirements for Currency Exchange

1. Identification Documents:
  • Original and valid CNIC/NICOP/POC/ARC/Passport with a valid visa or any other proof of legal stay of a foreigner in Pakistan is required for identity verification for all transactions.
  • For transactions of USD 500 or more, a copy of the identification document must also be provided. Further, retention of ID document copy is mandatory for all transactions.
2. Biometric Verification (BV):
  • Biometric verification is mandatory for all Pakistani nationals selling foreign currency worth USD 500 or more.
  • If biometric verification is unavailable due to age or medical reasons, the transaction may proceed based on NADRA Verisys.
3. Transaction Limits & Documentation:
  • For any foreign currency purchase transaction by the customer worth equalent USD 1,000 or more, the customer must provide a valid reason supported by appropriate documentation.
  • Customers must also submit a signed undertaking confirming that they have not purchased more than USD 10,000 per day or USD 100,000 per annum or equivalent (in the form of cash or outward remittance) from all ECs.
  • All purchase Transactions by customer worth USD 10,000 or more (or equivalent in other currencies) must be conducted through a cheque / Bank transfer issued from the personal account of the customer.
4. Annual Purchase Limits:
  • A customer can buy up to USD 10,000 per day and USD 100,000 per annum or equivalent in other foreign currencies per calendar year from all ECs.
5. Enhanced Due Diligence (EDD):
  • EDD is required for occasional or frequently visited customer making transactions where PEP is involved or transaction relates with high-risk jurisdictions.
  • Any transaction that requires enhanced scrutiny, irrespective of threshold limit, shall require EDD.
6. Management Approvals:
  • Management approval is required for transactions involving Politically Exposed Persons (PEPs) and customers from high-risk jurisdictions.
  • Approval is also mandatory for critical customers where EDD applies.

Note: No transaction can be conducted on an authority letter on behalf of an individual.

At BOP Exchange, we are committed to compliance with regulatory requirements and ensuring the highest level of transparency and security in all transactions.