1993-10-15

Added

Notice No. 6/93 of the Bank of Portugal

This notice defines foreign currency purchase and sale operations under Decree-Law 13/90 to include spot and forward transactions, swaps, options, futures, and physical currency exchanges. It authorizes authorized exchange dealers to freely negotiate exchange rates and commissions with clients or among themselves. The Bank of Portugal is required to publish daily indicative official exchange rates for a limited set of currencies, while dealers must visibly display current rates and fees at all counters and report transaction data to the Bank. These reporting obligations became effective on January 1, 1993.

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