Board Resolution No. 142/2026 Approving the Foreign Exchange Operations Regulation

BOARD OF DIRECTORS
BOARD RESOLUTION NO. 142/2026
SUBJECT: ECONOMIC POLICY ADVISORY - INTERNATIONAL OPERATIONS MANAGEMENT - APPROVAL OF THE FOREIGN EXCHANGE OPERATIONS REGULATION

VIEWED:
The Political Constitution of the State of February 7, 2009.
Law No. 1670, of October 31, 1995, of the Central Bank of Bolivia (BCB) and its modifications.
Ministerial Resolution No. 245 of June 26, 2026, of the Ministry of Economy and Public Finance.
The Statute of the BCB approved by Board Resolution No. 85/2026 of June 23, 2026.
The Foreign Exchange Operations Regulation approved by Board Resolution No. 88/2026 of June 26, 2026.
The report BCB-APEC-SPMEE-INF-2026-49 of September 21, 2026 issued by the Economic Policy Advisory (APEC) and the International Operations Management (GOI).
The report BCB-GAL-SANO-DLBCI-INF-2026-249 of September 21, 2026, from the Legal Affairs Management (GAL).

CONSIDERING:
That the Political Constitution of the State establishes in paragraph 1 of its article 326 that the State, through the Executive Branch, will determine the monetary and exchange policy objectives of the country, in coordination with the BCB. Likewise, in numeral 2 of paragraph 1 of its article 328, it establishes that it is the attribution of the BCB, in coordination with the economic policy determined by the Executive Branch, to execute the exchange policy.

That Law No. 1670 in its article 1 provides that the BCB is the only monetary and exchange authority of the country, with administrative, technical and financial competence and specialized normative faculties of general application. In its article 3, it determines that the BCB will formulate policies of general application in monetary, exchange and payment system matters for the fulfillment of its object.

That articles 44 and 54 subsections a), c) and o) of Law No. 1670, provide that the highest authority of the BCB is its Board of Directors, which is responsible for defining its policies, specialized norms of general application and internal norms. The Board has the attributions

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//2. B.R. No. 142/2026 to issue the norms and adopt the general decisions that were necessary for the BCB to fulfill the functions, competencies and faculties assigned to it by the Law; to carry out the follow-up of the execution of monetary, exchange, credit, financial intermediation, administration of International Reserves and other policies and regulations corresponding to the BCB in accordance with the Law; and to approve, modify and interpret the Statute and Regulations of the BCB, by two-thirds of the votes of all its members, without the need for any additional administrative act.

That the Statute of the BCB in numerals 1), 10), 22) and 51) of its article 11 determines that the Board has the attributions to approve general decisions and issue the norms that were necessary for the BCB to fulfill the functions, competencies and faculties assigned to it by the Law, approve the norms for the execution of the exchange policy, approve, modify and interpret the Statute and Regulations of the BCB by two-thirds of the votes of its members, without the need for an additional administrative act and other attributions that are necessary for the fulfillment of its functions.

That the Foreign Exchange Operations Regulation, approved by Board Resolution No. 88/2026 of June 26, 2026, establishes the procedures for the determination of the Official Exchange Rate of the Bolivian with respect to the United States Dollar.

CONSIDERING:
That through report BCB-APEC-SPMEE-INF-2026-49, the APEC and the GOI conclude that, in order to consolidate the advances obtained in the new flexible exchange regime, deepen the flexible form in an orderly and sustainable manner, as well as to optimize the functioning of the exchange market, the approval of a new Foreign Exchange Operations Regulation is recommended.

That through report BCB-GAL-SANO-DLBCI-INF-2026-249, the GAL concludes that the proposal for the Foreign Exchange Operations Regulation is legally viable as it does not violate the current legal framework, so it corresponds to the Board of Directors of the BCB its approval in accordance with what is established in article 54 subsections a), c) and o) of Law No. 1670 and article 11 numerals 1), 10), 22) and 51) of the Statute of the BCB.

THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA, RESOLVES:

Article 1.- Approve the Foreign Exchange Operations Regulation, which, as an annex, forms part of this Resolution.

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Article 2.- The Foreign Exchange Operations Regulation will enter into force from its publication.

Article 3.- From the publication of this Resolution, the Foreign Exchange Operations Regulation approved by Board Resolution No. 88/2026 of June 26, 2026 is left without effect.

Article 4.- The Presidency and the General Management are in charge of the execution and compliance of this Resolution.

La Paz, September 24, 2026
SIGNED. DAVID IVÁN ESPINOZA TORRICO, Dennise Sussan Martín Alarcón, Walter Fernando Orellana Rocha, Alvaro Alfonso Romero Villavicencio.

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ANNEX
FOREIGN EXCHANGE OPERATIONS REGULATION

Article 1.- (Object)
CHAPTER I
OBJECT
This Regulation has as its object to establish the procedures and methodology for the determination of the Official Exchange Rate (TCO) of the Bolivian with respect to the United States Dollar (USD), as well as to regulate its publication, validity and application.

Article 2.- (Scope)
The provisions of this Regulation will be applied by public sector entities, by financial entities authorized by the Financial System Supervision Authority (ASFI) and by private natural and legal persons that carry out exchange operations.

CHAPTER II
EXCHANGE POLICY

Article 3.- (Exchange Policy)
Within the framework of the flexible exchange regime established by Ministerial Resolution No. 245 of June 26, 2026 of the Ministry of Economy and Public Finance, the Exchange Policy executed by the Central Bank of Bolivia (BCB) is oriented to preserve the stability of the national currency, contributing to inflation control, the adequate functioning of the financial system and the equilibrium of the external sector.

CHAPTER III
OFFICIAL EXCHANGE RATE

Article 4.- (Reference Currency of the Official Exchange Rate)
The Official Exchange Rate of the Bolivian will be determined with respect to the United States Dollar.

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Article 5.- (Official Exchange Rate)
I. The TCO will be determined daily as the result of the amount-weighted median of the purchase exchange operations carried out by the Multiple Banks, the SME Banks and the Public Bank with their clients and the BCB. Operations between Financial Intermediation Entities (EIF) are excluded from this determination.
II. The value of the TCO will be rounded to the second decimal place.
III. The ASFI will instruct the entities described in the previous paragraph to remit their purchase exchange operations in accordance with the Methodology for Calculation and Publication of the TCO attached.
IV. Each business day, at 23:30 hours, the BCB will publish on its website the TCO that will be valid the following day for operations of the public sector and the BCB and for accounting and valuation records.
V. The TCO will be the reference for the exchange operations carried out by economic agents and the general public.

Article 6.- (Supervision and Compliance)
The ASFI will carry out periodic inspections on the reports of exchange operations sent by the entities indicated in paragraph 1 of article 5 of this Regulation.
The supply of false information or the selective omission of operations will be sanctioned by the ASFI within the framework of Law No. 393 on Financial Services.

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METHODOLOGY FOR CALCULATION
AND PUBLICATION OF THE OFFICIAL EXCHANGE RATE

1. Calculation
   The calculation of the TCO will include only the purchase operations of USD with Bolivians carried out by the EIF defined in the Foreign Exchange Operations Regulation, excluding operations between EIF and will be determined as the result of the amount-weighted median of the purchase exchange operations carried out by the entities indicated.

2. Information Collection
   Multiple Banks, SME Banks and the Public Bank must remit to the ASFI by 17:30 of each business day, their purchase exchange operations carried out between 17:01 of the previous business day and 17:00 hours of the day of the report. Subsequently, the ASFI will remit this information to the BCB by 17:40 of the same day.

3. Publication and Validity of the TCO
   Each business day, at 23:30 hours, the BCB will publish on its website the TCO that will govern the following day.
   The TCO published by the BCB on Fridays will govern for Saturday, Sunday and Monday.
   For holidays, the TCO published on the previous business day will apply. o