Currency Exchange
Ravi Exchange offers state of the art services to exchange major foreign currencies at our branches across Pakistan. Our currency exchange rates are always competitive and considered best in the market. We provide efficient services to banks, executive clients, and other customers needing to exchange money. As the largest and number ONE exchange company of the country; our experienced and dedicated staff is available to providing you prompt and personalized services with professional excellency.
Requirements for Purchase of Foreign Currencies
- Purchase of foreign currency from individuals as per published rates.
- Original and valid CNIC/NICOP/POC is required for identity and verification.
- Passport with valid visa is required for identity in case of a foreigner / travelers.
- For all foreign currency purchase transactions equivalent to USD 2500/- or above company will retain copies of identification documents i.e., CNIC/NICOP/POC.
- In case of a Foreigner, Passport (having valid visa or any other proof of legal stay in Pakistan).
Note: Additional information if any required.
Requirements for Sale of Foreign Currencies
- Sell foreign currency to individuals as per published rates.
- For all transactions, the Company will retain copy of identification document (in physical or digital form) i.e. Computerized National Identity Card (CNIC), National Identity Card for Overseas Pakistanis (NICOP), Pakistan Origin Card (POC), Passport (having valid visa on it or any other proof of legal stay of a foreigner in Pakistan) as the case may be; after having seen the original document.
- Company shall carry out biometric verification of Pakistani Nationals for all transactions equivalent to USD 500 or above and maintain a record thereof.
- For all transactions equivalent to USD 1,000 or above, the Company will record the purpose of the transaction and obtain supporting documents (CNIC, Passport, Visa, Confirm Ticket). The company shall also record the source of funds.
- All sale transaction Rs. 200,000 and above Up to USD 1,999 per transaction, the customer will transfer the transaction amount through his/her personal account or deposit the cash of this transaction into the bank account of Ravi Exchange Company and provide us the deposit slip.
- All sale transaction of USD 2,000/- or above (or equivalent in other currencies) the customer will conduct the transaction through his/her bank account or by depositing an individual account cheque into Ravi Exchange Company’s account, instead of cash payment.
- Company may sell foreign currency to individuals while ensuring the following limits:
i. For travel purposes, the maximum limit for purchasing foreign currency in cash per person per visit is USD 5,000 (or equivalent) for adults and USD 2,500 (or equivalent) for minors. The annual limit per calendar year is USD 30,000 (or equivalent) for adults and USD 15,000 (or equivalent) for minors.
ii. For bank deposits, the maximum limit for purchasing foreign currency (through account-to-account transfer) is USD 10,000 (or equivalent) per person per day, and USD 100,000 (or equivalent) per person per calendar year.
For this purpose, the Company shall obtain an undertaking from individual customer at the time of each sale transaction exceeding USD 1,000/- (or equivalent in other currencies) that he/she has not already reached the limit of USD 100,000/- per calendar year or USD 10,000/- per day and these limits will not be breached after the current transaction.