Regulatory Alerts2023-02-02
Directive No. 04-DME-2023 on Foreign Exchange Market Indicative Rates
The Department of Markets, under the Governor, issued Directive No. 04-DME-2023 to mandate that authorized banking financial institutions submit daily indicative foreign exchange rates via the Bloomberg FXGO platform. These institutions must report buying and selling quotes for the US dollar, euro, and South African rand at 8:30 a.m. and 1:30 p.m., while retaining the option to update rates intraday. The directive becomes effective on 13 February 2023, with all application disputes and omissions adjudicated by the Banco Nacional de Angola.
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