ARTICLE · 29 MARCH 2026

Extending Boundaries: Adjustments To South African Exchange Control Limits And Powers

ENS

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The Financial Surveillance Department of the South African Reserve Bank (“FinSurv”) recently published a suite of draft exchange control circulars for comment, giving effect to the Minister of Finance’s 2026 Budget Speech announcements...

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The Financial Surveillance Department of the South African Reserve Bank (“FinSurv”) recently published a suite of draft exchange control circulars for comment, giving effect to the Minister of Finance’s 2026 Budget Speech announcements as referred to in Exchange Control Circular No. 3/2026.

The drafts propose certain relaxations and technical amendments to the Currency and Exchanges Manuals applicable to Authorised Dealers (“ADs”) and Authorised Dealers in foreign exchange with limited authority (“ADLAs”), including higher individual and transactional limits and additional operational discretion for ADs and ADLAs.

We highlight below some of the key changes proposed in the draft circulars below:

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