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Pakistan's central bank temporarily suspends ACU mechanism?

In photo: An official of Pakistan's central bank, the State Bank of Pakistan, shows new currency notes of five and fifty rupee denominations at a press conference in Karachi on July 7, 2008. Photograph: (AFP)

WION Islamabad, Pakistan Jul 28, 2016, 04.07 PM (IST)
Pakistan's central bank, State Bank of Pakistan (SBP), issued a statement today notifying suspension of operations in Euro-dominated Asian Clearing Union (ACU). 

"As the payment channel for processing ACU transactions is under review, SBP is temporarily suspending operations in 'ACU Euro' with immediate effect," the statement read. 

The central bank further said that all eligible transactions in Euro will have to be settled outside the system. 

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