In a statement, the BNA reveals that the published exchange rates "are merely informative, reflecting only the market exchange rate at the time of their publication and are not intended to be used in market operations".
These changes, the note states, thus obliging the controlling companies and banks to sign contracts with Bloomberg in order to be able to trade through FXGO.
In other words, companies wishing to trade in foreign currency must trade with the FXGO platform. However, there is one exception: companies that make "foreign currency sales of less than 500,000 dollars" "or the equivalent value in another currency" are exempt.
If the rules are not met, banks may be "excluded from foreign exchange transactions for 90 days. In such cases, they are subject to the payment of indemnities", indicates the BNA.
For further information, please consult the BNA's website.
