CBE said to allow banks to sell 50% of excess FX to non-priority clients - including those seeking profit-repatriation
Banks were given the green light to sell 50% of excess foreign currency after meeting needs of priority importers to non-priority clients - including those seeking to repatriate profits, Bloomberg reports, citing six anonymous bankers who said they received verbal instructions on Monday. Banks are instructed to sell the remaining 50% of the excess foreign currency in interbank market. The Central Bank also allowed banks to refinance temporary overdrafts, according to the sources. (Bloomberg)
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