Regulatory Alerts2023-12-06
Foreign Exchange Policy
The Central Bank of The Gambia issued this policy to establish a transparent, free-floating exchange rate regime and assign the formulation and execution of exchange rate management to the Bank. The document replaces previous reference rates with a new Official Exchange Rate calculated as a volume-weighted mid-market rate based on daily USD transactions, while granting the CBG authority to impose temporary market restrictions during crises. It mandates licensed commercial banks, foreign exchange bureaus, microfinance institutions, and money transfer operators to comply with standardized guidelines and reserve management requirements to ensure market liquidity and price stability.
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