Regulatory Alerts2015-11-19 | Circular 17/2015Added
Circular 17/2015 — Modifies Circular 47/2008
The Bank of Mexico modifies the terms for the sale of US dollars in auctions to allow for supplementary auctions on days when ordinary auctions sell out completely. The amendment establishes that if the total allocated amount in ordinary auctions is exhausted, the Bank will conduct supplementary auctions on the same business day, with bidding windows and allocation rules adjusted accordingly. The minimum bid price is calculated by multiplying the previous business day's exchange rate published in the Official Gazette by factors determined by the Exchange Commission. These changes take effect on November 23, 2015.
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