Regulatory Alerts1991-04-03
Notice No. 04/91 of 4 November
The National Bank of Angola issues this notice to liberalize the foreign exchange market by authorizing licensed commercial banks and exchange bureaus to trade at floating market rates, thereby abolishing the official exchange rate for current invisible transactions. The regulation exempts purchased foreign exchange positions from automatic transfer to the Central Bank and permits the Central Bank to operate exclusively with authorized commercial banks at market rates. It also establishes mandatory currency entry declarations for amounts exceeding US$10,000, sets a US$5,000 exemption for residents exiting with foreign currency, and requires non-residents exiting with over US$10,000 to present their original entry declaration.
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