Regulation No. 003/09 on the Schedule for Foreign Exchange Purchase and Sale Operations via Tender

CENTRAL BANK OF THE CONGO

THE DEPUTY GOVERNOR

REGULATION NO. 003/09 ON THE SCHEDULE FOR FOREIGN EXCHANGE PURCHASE AND SALE OPERATIONS VIA TENDER

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I. Introduction

Pursuant to Ordinance-Law No. 67/272 of June 23, 1967, regarding the regulatory powers of the Central Bank of the Congo in foreign exchange regulation, and to Regulations No. 001/05 and 002/05 of February 14 and June 22, 2005, regarding foreign exchange sale and purchase operations via tender respectively, the Central Bank of the Congo, in order to ensure the regularity, transparency, and competition on the foreign exchange market, publishes below the schedule for said operations.

II. On the Schedule

Article 1:

The interventions of the Central Bank of the Congo on the foreign exchange market in the form of foreign exchange purchase and sale via tender are carried out according to an indicative schedule, as follows:

1. Announcement of the tender (J-1)	Preceding working day: Friday
2. Submission of offers by banks (J)	Every 2nd and 4th Monday of the month at 13:30
3. Publication of results (J)	On the day of the tender, no later than 15:00

If Monday is not a working day, the submission of offers takes place on the following working day.

Article 2:

Outside of the days provided for in Article 1, the Central Bank of the Congo reserves the right to convene tender sessions if the daily fluctuations of the exchange rate (USD/CDF) on the market exceed a margin of 1.5%.

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CENTRAL BANK OF THE CONGO

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Article 3:

This schedule is valid for one year and may be modified if circumstances require. Upon the expiration of the one-year period, renewal occurs by tacit agreement.

III. On the Direction, Submissions, and Results

Article 4:

The direction (sale or purchase) is indicated during the tender announcement, while submissions are deposited with the Directorate of Foreign Services.

Article 5:

The schedule, announcements, and tender results may be consulted on the BCC website www.bcc.cd.