According to State Bank sources, the purpose of establishing the platform is to provide an online system in the interbank market, the transparency of bids and offers will be promoted on the platform.
The aforementioned modern system will increase transparency in the interbank forex market, the platform will be accessible to all authorized dealers.
The bank’s initiative aims to provide a centralized trading platform for FX trading in the interbank market with timely price tracking.
The establishment of an FX matching platform is an important step towards increasing the breadth and transparency of the interbank foreign exchange market.
Forex trading to the IMF
It should be noted that the IMF has been given a plan for online platform for forex trading, which will be launched by the end of January 2024.
Foreign all currencies will be traded online in the interbank market. Pakistan has assured the IMF about reforms in the foreign exchange market.