Regulatory Alerts2013-01-01
Foreign Exchange Rate Quotations and Margins
The Bank of Zambia directs all authorised foreign exchange dealers to display currency quotations rounded to four decimal places following the January 2013 Kwacha rebasing. Dealers must also ensure that the spread between buying and selling rates, inclusive of all commissions and charges, remains within a two percent margin. This directive standardizes market pricing by enforcing international best practices and prior regulatory guidelines across the foreign exchange sector.
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