Regulatory Alerts1994-02-16
Notice No. 03/94 of February 17
The Governor of the National Bank of Angola issues Notice No. 03/94 to set the official exchange rate at US$1.00 equal to 17,836.00 New Kwanzas. This directive continues a gradual currency adjustment process initiated in February 1994 to align the exchange rate with macroeconomic equilibrium. The measure serves as a key preparatory step for implementing the Government's 1994 Economic Program and takes effect on February 21, 1994.
NOTICE No. 03/94
de February 17
Considering the need to continue the process of gradual adjustment of the official exchange rate to the macroeconomic equilibrium point, initiated with Notice No. 01/94 of February 10;
Taking into account that such adjustment process constitutes an important preparatory stage for the implementation of the Government's Economic Program for 1994, in addition to having already been provided for in the complementary measures to the 1993 Emergency Program, as highlighted in Article 2 of Notice No. 10/93 of September 10,
Under the authority of paragraph e) of Article 42 and Article 60 of the Organic Law of the National Bank of Angola,
I HEREBY DETERMINE:
Article 1
The official exchange rate is set at US$ 1.00 = Nkz 17,836.00 (One United States Dollar equivalent to Seventeen Thousand, Eight Hundred and Thirty-Six New Kwanzas).
Article 2
This Notice shall enter into force on February 21, 1994.
PUBLISHED
Luanda, February 17, 1994.
THE GOVERNOR
GENEROSO HERMENEGILDO GASPAR DE ALMEIDA