CPO/CEB-2001/6: Reporting by Currency Exchange Bureaux

INSTRUCTION – CPO/CEB 2001/6
REPORTING BY CURRENCY EXCHANGE BUREAUX
I. Authority
The Central Payments Office (hereinafter CPO) issues this Instruction Pursuant to Section 6 (j) of Regulation 2000/5, which requires that Currency Exchange Bureaux “shall keep all registers up to date, cross-checked and shall verify their balances daily”; and Section 6(k), which stipulates that a Currency Exchange Bureaux “shall submit monthly summaries of its currency and traveler’s check’s sales and purchases in a form prescribed by the CPO”.
II. Half month Report
For the purpose of building and maintaining a database on the sale and purchase of selected currencies in East Timor, the Central Payments Office (CPO) is hereby requesting all Currency Exchange Bureaux to report to the CPO on a half month basis (i.e 1-15 and 16-end of each month) their sale and purchase of currencies in the format outlined in the Table I below. Movement of Exchange Month Period Bought Sold Amount In Currency Equivalent in US Dollars Amount In Currency Equivalent in US Dollars AUD IDR PTE USD The movement of exchange report should be submitted to the CPO by the fifth day following the end of each reporting period. All Currency Exchange Bureaux are obliged to issue a trading document (voucher, receipt, statement) for each transaction undertaken.

III. Monthly Report
At the end of each month, a Currency Exchange Bureaux is required to submit to the CPO its entire balance sheet and income statement, and a report of its net foreign currency position according to the format shown in Table II below. The statements and report should be submitted to the CPO by the tenth day following the end of each month.
Table II
Report on Net Foreign Exchange Position
Month
Currency Amount in
Currency
Equivalent in US
Dollars
Total USD
IV. Entry into force
This instruction enter into force on 1 October 2001 21 September 2001 Elias M. Costa Acting General Manger