Regulatory Alerts2004-07-21
Added · Updated
Regulation of the Interbank Foreign Exchange Market
The Bank of Mozambique approves the new Regulation of the Interbank Foreign Exchange Market, which establishes operational rules for authorized commercial banks and other credit institutions. The regulation mandates electronic execution of all transactions via a specific software application, sets a minimum USD 250,000 threshold for operations involving the central bank, and defines procedures for foreign currency auctions and daily reporting. It also specifies operating hours, settlement requirements, and the Bank's authority to suspend institutions that disrupt market functioning.
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