Regulatory Alerts2002-05-06
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Bank of Zambia Circular 09/2002 Foreign Exchange Rates
The Bank of Zambia has immediately withdrawn Circular 6/2002, which previously restricted commercial banks' foreign exchange trading margins. This reversal follows the regulator's observation that bank margins have naturally narrowed to levels consistent with a stable and competitive Kwacha exchange market. The central bank will continue monitoring foreign exchange developments to preserve market integrity and the stability of its dealing window auction system.
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