Citi is one of the four Authorized Derivatives Dealers ("ADD") in the country and our Derivatives desk plays an active role in quoting rates for USD/PKR Cross Currency Swaps and PKR Interest Rate Swaps in the interbank market. The desk has been active in providing hedges to local banks, which are not ADD’s, but have clients who want to hedge their risk exposures through the use of derivatives. Citi’s desk is also the only one in Pakistan, which is ready to quote USD/PKR FX Options, once the SBP allows the product to be launched in the market.