Directive No. 04-DME-2023 on Foreign Exchange Market Indicative Rates

GOVERNOR
DIRECTIVE NO. 04/DME/2023
ORIGIN: DEPARTMENT OF MARKETS (DME)
DATE
02/02/2023
SUBJECT: FOREIGN EXCHANGE MARKET

• Indicative Bid and Offer rates submitted by the
  Banking Financial Institutions on Bloomberg FXGO Platform (AOA - BGN) There is a need to establish procedures for the insertion of indicative rates by Banking Financial Institutions in the Bloomberg Platform; Whereas the Bloomberg reference exchange rate is intended to be representative of the Foreign Exchange Market, reflecting "indicative" rates, and "executed" rates in the market; This Directive establishes the following:

1. The indicative exchange rates are quotations provided by the Banking Financial
   Institutions that signal the exchange rate levels proposed for foreign currency purchase and sale transactions.
2. The Banking Financial Institutions authorised to engage in foreign exchange trading
   shall submit daily, at 8:30 a.m. and 1:30 p.m., their indicative buying and selling exchange rates for the currencies North American Dollar (USD), Euro (EUR), and South African Rand (ZAR).
3. Observing the provisions of the previous point, the Banking Financial Institutions
   may also update their indicative exchange rates throughout the operating day.
4. The doubts and omissions arising from the interpretation and application of this
   Directive shall be settled by Banco Nacional de Angola.
5. This Directive shall enter into force on 13 February 2023.

Luanda, 02 February 2023.
MARKETS DEPARTMENT

CONTINUATION OF DIRECTIVE No. 04/2023 Page 2 of 2 Tânia Patrícia de Oliveira Mendes Lopes -Director-