Circulars from the Bank of Guyana (BOG) on February 2 to currency traders have fixed the spread between the buying and selling rates to no more than $3 and setting other stipulations which observers say constitute the biggest rollback in the free trade of foreign exchange for decades.
The three circulars issued to bank cambios, non-bank cambios and money transfer agencies likely signal concern over weeks of stress on the foreign currency market with businesspersons and citizens complaining that their applications for money have been met with delays and placement on waiting lists.
Concerns will mount that the distensions in the market may signal a lack of confidence in the economy and incidents of capital flight.
