Bank of Zambia raises foreign exchange negotiable threshold for foreign transactions to $5 million

Supporting the kwacha, the Bank of Zambia (BoZ) has increased foreign exchange negotiable threshold amount for overseas transactions.

The prescribed negotiable threshold under the Foreign Exchange Market Guidelines and Interbank Foreign Exchange Market (IFEM) Rules, which came into effective yesterday, has been adjusted upwards.

According to a circular signed by the BoZ Deputy Governor-Operations, Francis Chipimo, to all heads of commercial banks dated March 5, 2025, this adjustment aims to enhance operational efficiency of the domestic foreign exchange market.

“The Bank wishes to advise that the prescribed negotiable amount under Clause 4(1)(c) of the Guidelines and Clause 4.13 of the IFEM Rules has been revised upwards to US$5,000,000.00 from US$1,000,000.00 or the equivalent in foreign currency.

“The Bank further directs that this adjustment be brought to the attention of your clients to ensure compliance. This change is effective March 6, 2025.

The Bank will continue to closely monitor the developments in the foreign exchange market and provide further guidance when necessary,” Chipimo said.

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