Regulatory Alerts2002-12-20 | Resolución 144/2002Added · Updated
Resolution 144/2002 Approving the Foreign Exchange Operations Regulation
The Board of Directors of the Central Bank of Bolivia approves the new Foreign Exchange Operations Regulation, which establishes a free convertibility regime with a single, real, and flexible exchange rate. The regulation mandates that foreign currency sales to the private sector occur through a competitive bidding mechanism called the 'Bolsín', while sales to the public sector are handled exclusively by the Ministry of Finance. It sets operational rules for the Bolsín, including a minimum bid amount of US$100,000, a submission deadline of 15:00, and penalties for insufficient funds, with the new rules taking effect on January 2, 2003, and repealing the previous 1997 regulation.
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