Regulatory Alerts2008-12-15
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Bank of Zambia Circular 13/2008 Review of the Broad-Based Interbank Foreign Exchange Market System
The Bank of Zambia issued Circular 13/2008 to amend its broad-based interbank foreign exchange market system, effective immediately. The directive raises the marketable threshold for two-way quotes to a range of US$500,000 to US$1,000,000 (or equivalent) across all interbank and central bank transactions. Commercial banks must now submit daily forward contract data via designated forms, post quotes on Reuters Page ZMK = 1, and ensure the Bank consolidates this information for public publication.
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