Regulatory Alerts2024-09-13
Directive No. 05/2024, September 13
The Bank of Angola mandates that banking financial institutions immediately pass on 30% of foreign currency acquired from oil and diamond sector companies via the Bloomberg FXGO platform to the interbank market. Transactions must utilize RFQ or STA commands and be executed with at least three banking financial institutions, capped at three transactions per counterparty weekly. If interbank liquidity is insufficient, institutions must sell the acquired currency to the Bank of Angola at the prevailing average purchase exchange rate (BGN Bid).
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