Regulatory Alerts1991-12-18
Instruction No. 11/91: Foreign Exchange Policy - Floating Exchange Rate Market Regulations
The Governor of Angola's central bank issues Instruction No. 11/91 to amend and clarify foreign exchange regulations under Instructions No. 7/91 and 9/91. The directive redefines accredited non-bank institutions, restricts currency transactions to citizens over 18, and permits the purchase of foreign exchange from domestic deposit accounts. It further authorizes resident nationals to buy currency for travel, allows monthly remittances up to US$2,500 for students abroad, and enables legal entities to acquire funds for employee business trips lasting no more than thirty days.
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