Attention of the Authorised Dealers (ADs) is invited to the Para No. 2, Chapter 3 of the Guidelines for Foreign Exchange Transactions (GFET) 2009 (Vol‐1) regarding instructions for payment settlement through ACU mechanism in either ‘ACU Dollar’ or in ‘ACU Euro’.
- As the payment channel for processing ‘ACU Euro’ transactions has been suspended by some correspondents, Authorised Dealers are advised to suspend operations in ‘ACU Euro’ temporarily.
Accordingly, all eligible current account transactions in ‘ACU Euro’ are permitted to be settled outside the ACU mechanism until further notice.
Instructions of this circular will come into effect immediately. Please bring the contents of this circular to the notice of all concerned.