Regulatory Alerts2017-04-20
Notice No. 6/GBM/2017, of April 20 – Establishes the Principle of Exchange Rate Unity and Differential
The Bank of Mozambique issued Notices Nos. 3, 4, 5, and 6/GBM/2017 to standardize foreign exchange operations and pricing mechanisms across credit institutions and financial societies. Notice No. 4 establishes a unified reference exchange rate calculated via the MeticalNet platform at fixed daily intervals, while Notice No. 5 updates the valuation exchange rate used for converting foreign currency assets and liabilities into national currency. Notice No. 6 mandates the principle of exchange rate unity by capping the maximum differential (spread) between buying and selling rates at 2%, thereby enhancing market transparency, preventing rate multiplicity, and revoking prior conflicting regulations.
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