Instruction No. 4/92: Exchange Rate Policy - Floating Exchange Rate Market Regulation

INSTRUCTION NO. 4/92 SUBJECT: EXCHANGE RATE POLICY

• Floating Exchange Rate Market .Regulation Whereas the Floating Exchange Rate Market, established by Notice No. 4/91 and regulated by Instructions Nos. 07, 08 and 09/91, initially required foreign exchange operations to be backed by the foreign exchange fund, and was subsequently expanded by the foreign currency public sale system established by Instruction No. 1/92 of 6 May; Taking into account the need to extend the duration of commercial banks in the aforementioned Market, and exercising the competence conferred upon me by the current Organic Law, I HEREBY DETERMINE: Article 1 Accredited Institutions are authorized to carry out, in the Floating Exchange Rate Market, foreign currency sales to importers of their services. Article 2 The sale of foreign currency is subject to the presentation of a pro forma invoice from exporters, and, in the case of imports valued at more than the equivalent of US $10,000.00 (ten thousand United States dollars), a Prior Import Registration Form, the national currency equivalent of which must reflect the exchange rate of the Floating Market. Article 3 The documents referred to in the preceding article constitute the foreign exchange operation file and shall be retained on file by the Accredited Institution for the period established in point No. 11 of the Regulation published by Instruction 07/91. Article 4 This Instruction enters into force immediately. Luanda, 21 July 1992 THE GOVERNOR, SEBASTIÃO BASTOS LAVRADOR