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