Regulatory Alerts1995-01-01
Bank of Zambia Circular 5/1995: Foreign Exchange Open Position Limits
The Bank of Zambia issued Circular 5/1995 to mandate strict compliance with established foreign exchange open position limits for all commercial banks. Citing repeated violations, the central bank declared that any institution exceeding its designated limit will be immediately suspended from the foreign exchange market for that trading day. This enforcement directive reinforces prior July 1994 guidelines and establishes zero-tolerance daily monitoring to safeguard national currency stability.
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