Regulatory Alerts2019-11-07
Central Bank of Myanmar One-Way Foreign Exchange Auction Instruction 17-2019
The Central Bank of Myanmar issued Instruction 17-2019 to standardize the one-way foreign exchange auction process for Authorized Dealer banks. The directive mandates electronic bidding via the Refinitiv Dealing Platform, requires each bank to submit at least six bids totaling 50 percent for purchases or 20 percent for sales, and sets a minimum bid lot of 100,000 Myanmar kyats. It establishes T+2 value dates for currency transactions, imposes a 2 percent late payment penalty in kyats, and supersedes prior auction regulations effective from November 18, 2019.
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