Mubasher: The Central Bank of Bahrain (CBB) has said that it will take the appropriate legal measures against any violations to the regulatory systems and laws for company in the currency exchange sector with regards to foreign exchange transactions against the Bahraini dinar (BHD).
The CBB continuously monitors exchange companies to ensure the availability of the British pound and that the exchange rate is consistent with the prevalent prices of the GBP, the bank said on its official website on Tuesday.
The GBP exchange rate has been affected by the sharp drop it has seen following Britain's decision to exit the European Union (EU) two weeks ago.
The local Bahraini market's exchange rate is different from the interbank rate mentioned in the news and various media outlets, the CBB said.
This varying exchange rate followed the UK's vote to leave the EU, in what is known as the Brexit, which was reflected on the price of the GBP in the local market, the CBB added.
