Banking Circular No 10 of 2015 - Interbank Foreign Exchange Market

The Central Bank of Kenya has announced changes to inter-bank market operations to promote efficiency and transparency in the foreign exchange market. These changes include a minimum price for inter-bank trade of USD 500,000, specific dealing times, a maximum spread between indicative two-way quotes, and requirements for banks' indicative quotes on Reuters or Bloomberg screens. These regulations are effective immediately.

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KENYA
July 23rd, 2015 Haile Selassie Aver P. O. Box 60000 - 00200 Nairobi, K Telephone: 2860000, Fax: 34019 BANKING CIRCULAR NO.10 OF 2015 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS AND MICRO FINANCE BANKS

Inter-Bank Foreign Exchange Market

The Central Bank of Kenya announces the following changes and clarifications related to the inter-bank market operations to promote efficiency and transparency in the foreign exchange market :-

Minimum price for inter-bank trade shall be USD 500,000 2. Inter-bank Foreign Exchange Market dealing time starts at 8:30 am and ends at 4:30 pm from Monday to Friday.
Maximum spread between the indicative two-way quote shall be KES 20 Cents.
Bank's indicative two-way quote on Reuters's or Bloomberg screen must reflect the most current rates during trading hours.

This notification takes effect immediately.

GERALD A. NYAOM
DIRECTOR FINANCIAL
MARKETS

Lineage: Amended

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Timeline

Amended 1 time · last 2023-12-18

2023-12-18CBKBanking Circular No.16 of 2023 - Introduction of Electronic Matching Systems (EMS) in the Interbank Foreign Exchange Marketamends

Source: Central Bank of Kenya — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works