Regulatory Alerts1992-04-13
Notice No. 03/92 of April 14
The National Bank of Angola devalues the national currency, establishing an official exchange rate of 550 new Kwanzas per United States dollar. This measure implements the readjustment of price, income, monetary, credit, and exchange policies outlined in the Government Action Program. The directive takes effect at midnight on April 15, 1992, pursuant to Articles 42 and 60 of the Bank's Organic Law.
NOTICE NO. 03/92
of April 14
Considering the provisions of paragraph 2 of Article 1 of Decree No. 69/91 of November 15 and within the scope of the readjustment of the price and income policy, monetary, credit, and exchange policy provided for in the Government Action Program;
Under the authority of Articles 42 and 60 of the Organic Law of the National Bank of Angola, I determine:
Article 1 - The national currency is devalued, with the exchange rate set at 1 USD $ = 550. NKz.
(one United States dollar equivalent to five hundred and fifty new Kwanzas).
Article 2 - This notice enters into force at zero hours on April 15, 1992.
Published:
Luanda, April 14, 1992
Sebastião Bastos Lavrador