Regulatory Alerts2015-01-01
Bank of Zambia Foreign Exchange Market Measures
The Bank of Zambia has implemented immediate foreign exchange market measures requiring commercial banks to publish their exchange rates on Reuters and the central bank’s website at 09:30, 12:30, and 15:30 hours. These institutions must align their Board rates with interbank wholesale rates at the specified intervals, while retaining flexibility to update them anytime and enabling the central bank to trade beyond marketable thresholds on two-way quotes. The Bank will closely monitor adherence, designating non-compliance as unsafe and unsound banking practice subject to supervisory action under the Banking and Financial Services Act.
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