Forex Auction System Rules 2020.06.17

 

INTRODUCTION OF A FOREIGN EXCHANGE AUCTION TRADING SYSTEM


Further to the Bank's Press Statement of 8 June 2020 by which the Monetary Policy Committee advised that a formal market-based foreign exchange trading system will be put in place, the Bank wishes to advise the public that the Foreign Exchange Auction Trading System will be operational with effect from 23 June 2020.

The adoption of a Foreign Currency Auction System is expected to bring transparency and efficiency in the trading of foreign currency in the economy. The salient features of this Auction System will be as follows:

 

 

Download File: 

Tags: