Regulatory Alerts2017-12-01
Instruction No. 05-2017 of December 1, 2017 on Exchange Rate Policy
The Governor of the National Bank of Angola issued Instruction No. 05-2017 to revoke previous directives and adjust foreign exchange regulations to better align market operations with monetary and exchange rate policy objectives. The instruction mandates the immediate release of national currency resources previously held as collateral at the central bank for foreign currency acquisition and abolishes the requirement for such collateral at commercial banks. Furthermore, it restricts foreign exchange operations to clients with an active Tax Identification Number (NIF) and establishes the National Bank of Angola as the final authority on interpretation and application.
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