Regulatory Alerts1993-05-27
Notice No. 8/93 on Foreign Exchange Market Operations and Currency Declarations
The Governor of the National Bank of Angola issued Notice No. 8/93 to reestablish secondary market exchange mechanisms and authorize licensed commercial banks and exchange houses to trade foreign currency at free market rates. The regulation mandates that travelers entering the country must declare any foreign currency exceeding US$ 10,000 within three business days, while residents may export up to US$ 5,000 without proof of purchase but must show acquisition receipts for larger amounts. Non-residents departing with US$ 10,000 or more in foreign currency are required to present documentation of their initial currency entry declaration.
Share