Regulatory Alerts2021-05-09
Guideline No. 07/2021 of May 10 - Foreign Currency Exchange Policy: Foreign Currency Purchase and Sale Auctions Organized by the National Bank of Angola
The National Bank of Angola issued Guideline No. 07/2021 to standardize the procedures for foreign currency purchase and sale auctions conducted via the Bloomberg FXGO platform. The regulation mandates that authorized banking institutions comply with internal control and anti-money laundering requirements, submit up to four exchange rate bids within fifteen minutes of session opening, and adhere to ascending or descending selection criteria based on whether they are selling or buying currency. Operations settle on a D+2 basis, with the central bank retaining the authority to exclude speculative bids and resolve interpretative disputes, while formally repealing Guideline No. 19/2019.
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