He exchange market of the country registered an expansion of 49.5 % between 2019 and 2024, growth that brought with it the participation of sectors which did not work a relevant role in the determination of prices. With the purpose of promoting an orderly and sustainable development of this, the Central Bank of the Dominican Republic (BCRD) proposes a Modification to the exchange regulation.
The proposal contemplates Expand the universe of participating institutions on the BCRD exchange platform and in the payment system, with the mandatory incorporation of other financial entities and exchange intermediaries (change agents and agents of remittances and change), for better control, and capture in real time more complete and timely information on tran prices and volumes.
Inclusion will allow monitor and control more effectively the operational risks To those who are exposed the intermediaries and entities, raising the standards of internal control, operational continuity and mitigation of risks inherent to their activity, in line with the principles of prudential management and with the strengthening of the stability of the national financial system.
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It is proposed to extend to exchange intermediaries the scope of capital policies, procedures and requirements to consolidate the operational resilience, considering the growing volume of the operations they carry out and the need for their incorporation to the payment system and the exchange platform to have the operational and patrimonial support, establish the text.
He Central Bank It raises the level adjustment of Minimum capital and the minimum monthly average volumes required, “so that the incorporation of a greater number of participating entities is facilitated, in order to strengthen the execution of exchange policy “.
In this sense, the Minimum capital mandatory of the change agents “Category A” will rise to 23 million pesos, for “category B” to 11.5 million and for agents of remittances and change the amount will rise to 23 million pesos.
Other changes
Modification seeks to guarantee customers equitable margins and reasonable, in line with market conditions, and prohibit practices collusion or exchange of information to artificially influence the prices or market conditions and acts that They alter the ordersecurity, competition and transparency, among others.
Also contemplates that authorized agents incurring opposite practices to the regulatory framework, to the guidelines of good behavior or that affect the proper functioning of the exchange marketcould be suspended from the platform.
Between 2019 and 2024, the Transized volume in it exchange market It went from 51,811 million dollars to 77,476 million.
He Central Bank reported yesterday that the Modification proposal will be available for purposes of Public consultation during 30 days and the Interested you can consult your website.
