Banking Circular No 10 of 2015 - Interbank Foreign Exchange Market

KENYA July 23rd, 2015 Haile Selassie Aver P. O. Box 60000 - 00200 Nairobi, K Telephone: 2860000, Fax: 34019 BANKING CIRCULAR NO.10 OF 2015 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS AND MICRO FINANCE BANKS

Inter-Bank Foreign Exchange Market

The Central Bank of Kenya announces the following changes and clarifications related to the inter-bank market operations to promote efficiency and transparency in the foreign exchange market :-

1. Minimum price for inter-bank trade shall be USD 500,000 2. Inter-bank Foreign Exchange Market dealing time starts at 8:30 am and ends at 4:30 pm from Monday to Friday.

2. Maximum spread between the indicative two-way quote shall be KES 20 Cents.

3. Bank's indicative two-way quote on Reuters's or Bloomberg screen must reflect the most current rates during trading hours.

This notification takes effect immediately.

GERALD A. NYAOM DIRECTOR FINANCIAL MARKETS