Regulatory Alerts1994-02-09
Notice No. 2/94 of February 10
The National Bank of Angola fixes the official exchange rate at US$1.00 to 12,740.00 New Kwanzas to gradually align with macroeconomic equilibrium targets established in Notice No. 10/93. Issued by Governor Generoso Hermenegildo Gaspar de Almeida under the Bank's Organic Law, this directive replaces prior valuation benchmarks. The new rate officially takes effect on February 14, 1994.
NOTICE NO. 2/94 of February 10 Considering the need to gradually align the official exchange rate with the macroeconomic equilibrium point as established in Article 2 of Notice No. 10/93 of September 1, Under paragraph e) of Article 42 and Article 60 of the Organic Law of the National Bank of Angola, I HEREBY DETERMINE: Article 1 The official exchange rate is fixed at US$ 1.00 = Nkz 12,740.00 (One United States Dollar equivalent to Twelve Thousand, Seven Hundred and Forty New Kwanzas). Article 2 This Notice enters into force on February 14, 1994. PUBLISH Luanda, February 10, 1994. THE GOVERNOR GENEROSO HERMENEGILDO GASPAR DE ALMEIDA