Regulatory Alerts2005-12-20
Added · Updated
Notice No. 01/GGBM/2005 of April 29 - Maximum Difference Between Foreign Currency Purchase and Sale Rates (Spread)
The Bank of Mozambique mandates that all authorized Banks and Exchange Houses must observe a maximum spread of two percent between foreign currency purchase and sale rates in client operations. This two percent limit includes any taxes and commissions charged for transactions involving foreign banknotes, coins, traveler's checks, and credit cards. Operators are required to display exchange rate tables in visible and accessible locations, with non-compliance constituting an offense punishable under the law.
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