Regulatory Alerts2014-01-01
Bank of Zambia Revision to the Interbank Forex Market Framework
The Bank of Zambia has revised its Interbank Foreign Exchange Market framework to moderate exchange rate volatility and improve market orderliness. Commercial banks must now apply a two-way quote marketable amount ranging from US$0.5 million to US$1.0 million and a maximum Bid/Ask spread of K0.02. These measures take immediate effect and will be periodically reviewed by the central bank based on prevailing market conditions.
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