Hundred percent cash margin for non-essential goods

The Monetary Board of the Central Bank  has imposed a 100 percent cash margin deposit requirement against the import of selected goods of non-essential and non-urgent nature made under Letters of Credit and Documents against Acceptance terms with Licensed Commercial Banks and National Savings Bank, with immediate effect. 

The decision to impose the cash margin deposit requirement is expected to support the ongoing efforts to preserve the stability of the exchange rate and foreign currency market liquidity, particularly by discouraging excessive imports of a speculative nature.