Regulatory Alerts2016-03-18
Added · Updated
Instruction: Establishment of the BCC Indicative Exchange Rate
The Central Bank of Congo mandates approved banks and exchange bureaus to transmit daily foreign exchange data via the electronic BCC-FOREX system by 09:00 for reports and 16:00 for transactions. The system calculates the indicative exchange rate using a weighted average of transaction volumes and rates, with automatic sanctions applied for late, missing, or erroneous submissions. Entities not yet connected to the system may continue using current transmission methods until they are integrated.
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