Regulatory Alerts1993-04-12
Notice No. 04/93 of 13 April
The Governor of the National Bank of Angola issued Notice No. 04/93 to establish a fixed exchange rate of 4,000 New Kwanzas per US Dollar, aligning with the Government's Emergency Program. This directive explicitly repeals all prior conflicting legislation, specifically Notice No. 2/93 and its regulatory directive 1/93 dated 25 January 1993. The new exchange rate regime officially takes effect at midnight on 14 April 1993.
Notice No. 04/93 OF 13 APRIL Whereas the Government's Emergency Program presupposes the establishment of a new exchange rate regime compatible with the objective situation the Country is going through;
Under Article 42(e) and Article 6 of the Organic Law of the National Bank of Angola, I DETERMINE: Article 1 - The exchange rate to be used in all domestic operations with the outside world is fixed at USD 1.00/NKZ 4,000.00 (One United States Dollar equivalent to Four Thousand New Kwanzas). Article 2 - All legislation contrary to this Notice is hereby repealed, namely: a) Notice No. 2/93 of 25 January 1993 and its respective regulatory directive 1/93 of 25 January 1993.
Article 3 - This Notice enters into force at Zero Hours on 14 April 1993. PUBLISH Luanda, 13 April 1993 The Governor Generoso Hermenegildo G. de Almeida