Regulatory Alerts2020-02-01
Instruction N° 080/DGCC/DCH/18 Amending Instruction 0056/DGCC/DCH/16 Establishing a Bilateral Foreign Exchange Auction Market
The Central Bank of the Republic of Guinea (BCRG) issued Instruction N° 080/DGCC/DCH/18, which amends Articles 2, 11, and 13 of its prior Instruction N°0056/DGCC/DCH/16 establishing the bilateral foreign exchange auction market. This new instruction clarifies that the BCRG, commercial banks, and authorized external intermediaries can participate in these auctions. It also introduces sanctions for non-compliance, including a suspension from 1 to 4 auction sessions, and allows the BCRG to conduct unilateral US dollar sales in exceptional cases, limiting any single participant to 40 percent of the amount sold.
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