Regulatory Alerts1991-11-25
Instruction No. 08/91: Exchange Rate Policy - Floating Exchange Rate Market Regulations
The Governor issued Instruction No. 08/91 to clarify ambiguities in Notice No. 4/91 regarding the purchase of foreign currency under the Floating Exchange Rate Market Regulations. The directive explicitly authorizes accredited banking institutions operating within this market to purchase foreign exchange at free market rates from deposit accounts held for individuals or legal entities. This regulation entered into force immediately upon issuance in Luanda on November 26, 1991.
INSTRUCTION NO. 08/91 SUBJECT: EXCHANGE RATE POLICY
- Floating Exchange Rate Market
- Regulations Whereas certain doubts have arisen regarding the provisions of the Regulations of the Floating Exchange Rate Market established by Notice No. 4/91 of November 4, concerning the purchase of foreign currency: In the exercise of the powers conferred upon me by the Organic Law in force, I HEREBY ORDER: Article 1. Accredited Banking Institutions authorized to operate in the Floating Exchange Rate Market are permitted to purchase, at free market rates, foreign exchange registered in deposit accounts in foreign currency held by the Institution itself for individuals or legal entities. Article 2. This Instruction enters into force immediately. Luanda, November 26, 1991. THE GOVERNOR Fernando Alberto da Graça Teixeira
Share