Emerging Markets Rates and Currencies Handbook

FX Spot FX Forwards NDFs FX Options Interest Rate Swap Interest Rate Options XCCY swaps Market Overview Onshore Market   ✗ ✗ ✗ ✗ ✗ Offshore Market ✗ ✗ ✗ ✗ ✗ ✗ ✗ Onshore Volume (MM USD Daily) Offshore Volume (MM USD Daily) Onshore Max Tenor (Or Typical Tenor For Spot) Offshore Max Tenor (Or Typical Tenor For Spot) Onshore Typical Deal Size (MM USD) Offshore Typical Deal Size (MM USD) Onshore CitiFX Pulse Capabilities 10 - 30 N/A T + 0 to T+2 N/A 0.3 N/A ✗ Episodic N/A 30 days N/A 1 to 5 N/A ✗ N/A N/A N/A N/A N/A N/A ✗ N/A N/A N/A N/A N/A N/A ✗ N/A N/A N/A N/A N/A N/A ✗ N/A N/A N/A N/A N/A N/A ✗ N/A N/A N/A N/A N/A N/A ✗ Offshore CitiFX Pulse Capabilities ✗ ✗ ✗ ✗ ✗ ✗ ✗ Source: Citi indicative information Market opening hours and liquidity during the day Fixing No Fixing. Bloomberg Ticker: {BSD Curncy}. Regulation Offshore Restrictions: The remittance of funds or payments and the repatriation of profits, dividends, interest payments, capital or any other service payment abroad are subject to approval of the Central Bank. Non-Resident Restrictions: Non-residents are not permitted to hold local currency without prior approval from the Central Bank. License Requirements Only Authorized dealers are permitted to trade FX with the public. Requirements to open a foreign currency account Resident individuals and companies require exchange control to open and maintain BSD currency accounts. Deal Management Rollover: Rollovers are possible. Unwinding: NA. Early Maturity: NA. Documentation Requirements Written Exchange Control Approval is required to sell BSD and Buy hard currencies. Under specific circumstances, authorized dealers have been granted Delegated Authority to execute BSD sales against hard currencies without prior Central Bank Approval. Trade Flows There are no costs of restrictions to trading in FX Spot or Forward Markets. All Banks are required to report FX transactions to the Central Bank. Capital Flow and FDI There are no foreign exchange restrictions on Capital flows coming into The Bahamas. Exchange Control Approval is required for the Sale of BSD against hard currencies.