CENTRAL BANK OF LIBERIA TO PUBLICIZE ITS FOREIGN EXCHANGE INTERVENTIONS

MONROVIA – June 1, 2018: In keeping with Section 14 and 15 of the

CBL Foreign Exchange Sales Auction - Rules and Regulations, the

CBL will no later than 24 hours prior to each foreign exchange auction,

publicize the date and amount available for the foreign exchange auction.

After the auction, the CBL will publish the amount won, the names of

successful bidders and the clearing rate for the Auction. This measure

which takes effect starting June 2018 is intended to promote public

awareness and transparency in the auction process.

 

The Central Bank of Liberia (CBL) conducts foreign exchange auctions,

which entails the selling and buying of foreign exchange. This policy tool

was adopted by the CBL in 2004. By intervening in the foreign exchange

market through the purchase and sale of foreign exchange, CBL aims to

smoothen the volatility in the exchange rate.

 

For inquiries contact:

 

Cyrus W. Badio

Head of Communications

Central Bank of Liberia

Email: cwbadio@cbl.org.lr