Regulatory Alerts2015-08-05
Foreign Exchange Sale Auction Rules and Regulations
The Central Bank of Liberia establishes these regulations to govern a weekly uniform-price foreign exchange sale auction that stabilizes the exchange rate and ensures transparent access to U.S. dollars for importers. Commercial banks and licensed foreign exchange bureaux must submit sealed bids by 9:30 a.m., with successful allocations cleared at the marginal rate and settled within two banking days. Strict compliance is enforced through mandatory fund sufficiency certifications, detailed transaction reporting, and supervisory penalties for late attendance or non-compliance.
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