Regulatory Alerts1994-03-21
Notice No. 5/94 of 21 March
The Governor of the National Bank of Angola issued Notice No. 5/94 to establish the official exchange rate at 35,000 New Kwanzas per US dollar. This rate adjustment continues a gradual macroeconomic stabilization process initiated in February 1994 and aligns with the 1993 Emergency Program and the upcoming 1994 Economic and Social Program. The notice takes effect on 22 March 1994 under the authority of the Bank's Organic Law.
NOTICE No. 5/94
de 21 de Março
Considering the need to continue the process of gradual adjustment of the official exchange rate to the macroeconomic equilibrium point, following Notices No. 2/94 of 10 February, No. 3/94 of 17 February, and No. 4/94 of 28 February;
Taking into account that such adjustment process falls under both the complementary measures to the 1993 Emergency Program and the preparation of the Economic and Social Program for 1994, as determined by the Council of Ministers through Resolution No. 4/93 of 10 September, and by the National Assembly through Resolution No. 17/93 of 12 November,
Under the provisions of paragraph e) of Article 42 and Article 60 of the Organic Law of the National Bank of Angola,
I DETERMINE:
Article 1
The official exchange rate is set at US$ 1.00 = Nkz 35,000.00 (One United States Dollar equivalent to Thirty-Five Thousand New Kwanzas).
Article 2
This Notice enters into force on 22 March 1994.
PUBLISHED
Luanda, 21 March 1994.
THE GOVERNOR
GENEROSO HERMENEGILDO GASPAR DE ALMEIDA