Regulatory Alerts2013-06-12 | SGDB N° 021/2013Added · Updated
SGDB N° 021/2013
The Central Bank of Bolivia authorizes the same-day sale of US dollars to the general public and financial entities, establishing a daily sales limit of USD 30 million and a trading window from 10:00 to 12:00 starting June 13, 2013. Financial entities must submit requests exclusively through the Foreign Exchange Operations System (SIOC) in minimum increments of USD 100,000, with immediate crediting of funds required upon acceptance. For client transactions, entities must submit accounting proof of national currency debits and USD credits to the Central Bank by the next business day, while existing submission procedures via the Bolsín remain in effect.
BANCO CENTRAL DE BOLIVIA
EXTERNAL CIRCULAR OF THE CENTRAL BANK OF BOLIVIA
La Paz, June 12, 2013 SGDB No. 021/2013
FROM: GENERAL MANAGEMENT INTERNATIONAL OPERATIONS DEPARTMENT
TO: FINANCIAL ENTITIES
SUBJECT: SALE OF DOLLARS ON THE DAY OF THE REQUEST
Ladies and Gentlemen:
The Central Bank of Bolivia (BCB), through Board Resolution No. 063/2013 of June 11, 2013, approved the Foreign Exchange Operations Regulations. Article 19 of this Regulation provides for the sale of United States dollars (USD) to the general public and to financial entities, on the same day as the operation at the prevailing official selling exchange rate, via debit in national currency accounts and credit in USD accounts at financial entities.
In compliance with Article 3 of the aforementioned Regulation, the Monetary and Exchange Policy Committee on June 12, 2013, established the following:
a) Daily amount of USD 30 million for same-day sales. b) Sales hours from 10:00 to 12:00.
Consequently, starting June 13, 2013, the general public and financial entities may purchase USD from the BCB on the same day, subject to the following procedure:
- Requests must be sent exclusively through the Central Bank's Foreign Exchange Operations System (SIOC), with a minimum amount of USD 100,000 and in multiples of USD 100,000.
- Requests shall be made on behalf of the financial entity itself or on behalf of a client.
- Requests will be attended to in the order of entry into the SIOC.
BANCO CENTRAL DE BOLIVIA
- Once the request is accepted, the credit of the USD will be immediate; therefore, for client operations, the financial entity must credit its clients' accounts also in an immediate manner.
- In the case of requests accepted on behalf of clients, the financial entity must send to the International Operations Management of the BCB, by the next business day, copies of the accounting vouchers that evidence the debit in national currency and the credit in USD of the beneficiary's accounts.
- The submission of requests to the Bolsín, in accordance with External Circular of the Central Bank of Bolivia SGDB No. 057/2012 of December 24, 2012, remains in effect.
The External Operations Sub-management of the BCB will handle inquiries regarding this Circular (Phones 2661802, 2661808, or 2661811)