SARB updates Currency and Exchanges Manual for Dealers

The South African Reserve Bank's (SARB) Financial Surveillance Department maintains the comprehensive "Currency and Exchanges Manual for Authorised Dealers," a critical reference for financial institutions managing foreign exchange transactions.

This manual outlines the regulatory framework governing currency and exchange controls in South Africa, ensuring compliance for all authorised dealers.

Regularly updated, the manual reflects ongoing adjustments to policy and operational procedures, with the latest significant revision, Version 1.131, issued on May 15, 2026.

This continuous evolution underscores the dynamic nature of South Africa's financial regulations, requiring dealers to stay abreast of the latest directives to facilitate legitimate cross-border transactions while safeguarding financial stability.

The manual serves as the primary guide for interpreting and applying the Exchange Control Regulations, covering a vast array of transactions from capital and income transfers to import/export payments and personal allowances.

The manual's extensive Table of Contents reveals its broad scope, encompassing various facets of currency and exchange management.

Key sections address definitions, authorised entities, and the duties of authorised dealers, including reporting requirements and procedures for administering Exchange Control Regulations.

It provides specific guidelines for capital and income transfers, payments for imports, and miscellaneous payments for private individuals.

Further chapters delve into personal transfers by foreign nationals, rules for embassies, and regulations concerning charitable bodies, shipping companies, and insurance.

This structured approach ensures that authorised dealers have clear instructions for handling diverse financial transactions, from complex capital movements by companies to routine personal allowances, all within the stipulated regulatory boundaries.