Regulatory Alerts2018-12-02
Instruction No. 20/2018 of December 3
The National Bank of Angola, through Governor José de Lima Massano, issues Instruction No. 20/2018 to establish a precise calculation methodology for reference exchange rates and define permissible margins for banking financial institutions' foreign currency transactions. The directive mandates that selling reference rates be determined via weighted averages of central bank auctions or interbank sales, while allowing banks to apply up to a 2 percent margin on published reference rates for client transactions. This framework standardizes market pricing, ensures transparency through daily portal publications by 12:30 hours, and formally revokes the previous Instruction No. 03/2018 upon publication.
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