Regulatory Alerts2015-12-29
Notice No. 12/2015 of 29 December - Exchange Rate Policy
The National Bank of Angola issued Notice No. 12/2015 to establish operational rules for the Monetary Conversion Agreement with the Bank of Namibia and regulate currency transport at the Santa Clara-Oshikango border. The notice authorizes financial institutions and exchange houses to sell Namibian Dollars to resident individuals up to 30,000 Kwanzas weekly, subject to strict identification and reporting requirements. It also revokes previous notices and mandates compliance with existing limits on the entry and exit of national and foreign currency.
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