Regulatory Alerts2001-01-01
Revision of Guidelines for Foreign Exchange Suppliers
The Bank of Zambia has issued revised guidelines for foreign exchange suppliers to rationalize the dealing window and stabilize the national exchange rate. The regulations lower the weekly eligibility threshold for mandatory participation to US$100,000 and mandate that all successful bidders receive allocations at a uniform cut-off rate. Strict procedural requirements are established for tender submissions, delivery-versus-payment settlement within two working days, and penalties for non-compliance or withdrawal of bids.
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