Zambia - Foreign Exchange ControlsZambia - Foreign Exchange Controls
Bank accounts may be held in local or foreign currency, and funds are easily transferred out of the country or held offshore. Amounts over $5,000, carried in or out in cash or travelers checks, must be declared. Commercial banks and bureau de change operators restrict issuance of over-the-counter cash to $5,000 per transaction.
The BoZ is responsible for the management of the country’s foreign exchange reserves and participates in open market operations to either build up reserves or to smooth exchange rate volatility.
Zambia Market Access Foreign Exchange