Regulatory Alerts1996-04-30
Instruction No. 04/96 on the Exchange Rate Regime and Resale Period of Foreign Exchange to BNA
The Governor of the Banco Nacional de Angola issued Instruction No. 04/96 to mandate that financial institutions resell acquired foreign exchange to the central bank within 48 working hours of the value date. The directive establishes that resale transactions must occur at the primary market purchase rate and caps the maximum margin financial institutions may charge their clients at 3 percent. All outstanding foreign exchange operations not yet executed are subject to this 48-hour resale window, excluding those tied to credit lines, with the instruction taking immediate effect.
Share