Regulatory Alerts2019-10-24
Instruction No. 16/2019, of October 24
The Governor of the Banco Nacional de Angola issued Instruction No. 16/2019 to adjust the formation and application of primary market reference exchange rates and those charged by Banking Financial Institutions. The directive establishes that on auction days, the reference sell rate will be the weighted average of Banco Nacional de Angola auctions, while on non-auction days it relies on interbank sales exceeding USD 20 million, with the buy rate calculated at a maximum 2% discount. It further mandates free negotiation for interbank and client transactions, revokes Instruction No. 20/2018, and takes effect upon publication.
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