Regulatory Alerts2020-01-01
Amendments to the Interbank Foreign Exchange Market Rules
The Bank of Zambia has amended Clause 5 of the Interbank Foreign Exchange Market Rules to require authorised dealers to transact within current retail board rates and align client pricing with interbank benchmarks. Specifically, commercial banks must now purchase foreign exchange from retail and corporate clients at or below the current interbank bid price, while capping sales to those clients at the retail board offer rate. These pricing constraints take immediate effect to strengthen transparency and operational discipline across Zambia’s domestic foreign exchange market.
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