Regulatory Alerts2006-12-07
Regulation (NAP) – Foreign Currency Bidding System
The Central Bank of São Tomé and Príncipe establishes the Foreign Currency Bidding System (SLD) to regulate foreign currency supply and demand through a transparent auction mechanism. The regulation mandates that all banks participate directly, while exchange houses and individuals must bid through financial institutions, with a minimum participation threshold of USD 100,000. It outlines strict procedures for proposal submission, cutoff rate determination, settlement timelines, and escalating financial penalties for non-compliance or insufficient account balances.
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