Regulatory Alerts2018-01-18
Instruction No. 03-2018 of January 19 Regarding Exchange Rate Policy
The Governor of the National Bank of Angola issued Instruction No. 03-2018 to establish the methodology for calculating the reference exchange rate and permitted margins for secondary market operations. The directive mandates that the reference rate be derived from the weighted average of sale rates in foreign currency auctions organized by the Bank, while commercial banks are allowed to apply margins of up to 2% on this reference rate for interbank and client transactions. This regulation supersedes conflicting prior rules and entered into force on January 24, 2018.
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