Regulatory Alerts2014-12-12
Foreign Exchange Sale Auction Rules and Regulations
The Central Bank of Liberia establishes these regulations to conduct a transparent, weekly uniform-price auction for United States dollars that stabilizes the national exchange rate. Commercial banks, licensed foreign exchange bureaus, and qualified participants submit sealed bids before 10:00 a.m. on Wednesdays, with successful bidders receiving allocated currency at a single clearing rate and completing settlements within three banking days. The Foreign Exchange Sale Auction Supervisory Committee oversees operations, enforces mandatory attendance and eligibility requirements, and retains the authority to reject bids or impose financial sanctions for non-compliance.
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