Central Bank Announces New Margins For Sales And Purchases Of Foreign Exchange

The Central Bank of Barbados wishes to inform the public that it intends to adjust the margins on foreign exchange transactions.

With effect from August 3, 2011, the Bank will buy United States dollars from an authorised dealer and sell United States dollars to an authorised dealer at the following rates:

Buying Rates Selling Rates
Notes 1.99000 2.01786
Telegraphic Transfers 1.99750 2.02500

The Central Bank is letting Bajans know it intends to adjust margins on foreign exchange transactions.

With effect from August 3, 2011, an authorised dealer shall buy United States dollars from the public and shall sell United States dollars to the public at rates that are no less favourable than the following:

Buying Rates Selling Rates
Notes 1.98000 2.02857
Demand/Sight 1.99000 2.02768
Telegraphic Transfers 1.99375 2.02768

With effect from August 3, 2011,

(a)  the Bank’s rates for selling other foreign currencies to an authorised dealer and for buying other foreign currencies from an authorised dealer; and

(b) the rates of an authorised dealer for selling other foreign currencies to the public and for buying other foreign currencies from the public, will be adjusted as a consequence of the new rates set out above and will be available from the Bank on a daily basis.

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