Regulatory Alerts2018-12-02
Instruction No. 20/2018, of December 3
The National Bank of Angola issued Instruction No. 20/2018 to standardize the calculation methodology for primary market reference exchange rates and mandate their application by banking financial institutions. The directive establishes that sell reference rates are determined via weighted averages of central bank auctions or interbank sales, while buy rates are capped at a 1% reduction from sell rates. Banking institutions may apply margins of up to 2 percent on published reference rates for client transactions, and this framework supersedes Instruction No. 03/2018 effective upon publication.
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