Regulatory Alerts2018-01-19
Instruction No. 03-2018 of January 19, 2018
The Governor of the National Bank of Angola issued Instruction No. 03-2018 to establish the methodology for calculating the reference exchange rate and define permissible margins for secondary market operations. The directive mandates that the reference rate be derived from the weighted average of foreign currency auction sales rates and allows commercial banks to apply margins of up to 2% on this reference rate for interbank and client transactions. This instruction supersedes conflicting regulations and entered into force on January 24, 2018.
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