First direct transaction in foreign currency by legal entity
First direct transaction in foreign currency by legal entity

On September 17, 2021, the first transaction in foreign currency was carried out by a legal entity through the direct admission to the BCSE trading system.

Direct admission (without the intermediation of banks) to foreign currency exchange transactions for legal entities and individuals became possible after introducing changes in currency legislation and BCSE local legal acts and updating the BCSE trading system.

The advantages of the direct foreign exchange transactions on the BCSE are as follows:

reducing expenses due to the absence of bank commissions;

a better rate due to a much narrower spread (difference) between purchase and sale rates on the BCSE in comparison with the bank rate;

online complete and reliable information on exchange trading including all available purchase and sale bids, transactions volume, rate dynamics;

independent decision-making on the transaction moment.

The key advantage of the exchange currency market is a fair, competitive, organized trading with the simultaneous participation of all banks of the Republic of Belarus aimed at providing transparency of transactions, the optimal rate of the purchased or sold currency. 

Tags: FOREX Market