A new regulation has been issued that restricts the type of authorized foreign exchange operations within the sector. Entities covered by this regulation are required to operate on a limited basis, specifically in purchasing foreign currency from clients.
The acquired foreign currency must be exclusively used for the activities conducted by the purchasing entity, and the sale of the purchased foreign currency is prohibited.
The regulation also mandates that operators must secure formal authorization from the central bank to carry out exchange activities.
Exchange rates can be freely negotiated with clients, provided they are publicly displayed, as noted in the announcement.
Each transaction should be accompanied by a receipt detailing the client’s identification, amount, currency, exchange rate applied, and transaction date. Furthermore, operators are required to submit monthly statistical transaction data to the central bank (BNA).
This new directive is effective immediately, thereby nullifying the previous regulation.
