The Central Bank of Barbados has published guidance on the new foreign exchange fee (FXF) that was included in the Barbados Financial Statement and Budgetary Proposals for 2017 ({News-2017-06-13/P/2-previous coverage}). Key points as provided by the Central Bank include:

• The FXF is introduced in two phases: from 17 July 2017 for purchases of foreign cash, wire transfers, and bank drafts and fr…