Regulatory Alerts2020-01-01
Amendments to the Interbank Foreign Exchange Market Rules
The Bank of Zambia has revised the Interbank Foreign Exchange Market Rules to enhance domestic market transparency and operational efficiency. The amendments implement a fifteen-pip constrained pricing mechanism, maintain interbank bid-offer spreads at K0.05 and retail spreads at two percent, and set the interbank two-way quote threshold between US$0.5 million and US$1.0 million. The revised framework takes effect on March 26, 2020, with broker-related provisions under Rule 9.0 becoming operational one month later without disrupting current banking practices.
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