The Municipal Guard has issued instructions to all its branches to close unregistered currency exchange companies and offices, as part of a regulatory campaign aimed at controlling the foreign exchange market.
The agency clarified that the decision includes all offices not listed among the 157 companies granted an operating permit or official license by the Central Bank, confirming that the step aims to protect consumers and prevent illegal practices in the exchange sector.
Municipal Guard
The Municipal Guard was a police force established in Portugal in 1867, modeled after the French Gendarmerie, to maintain public order in urban areas. It was dissolved in 1911 following the establishment of the Portuguese Republic, with its duties being transferred to other security forces.
Central Bank
The Central Bank is a financial institution responsible for managing a nation’s currency, money supply, and interest rates. Historically, such banks were often established to stabilize currency and act as a lender of last resort, with Sweden’s Riksbank, founded in 1668, frequently cited as the world’s oldest central bank. Its core functions typically include monetary policy, financial system regulation, and maintaining economic stability.
