Regulatory Alerts1991-10-16
Instruction No. 04/91: Exchange Rate Policy - Exchange Position and Limits
The National Bank of Angola issues Instruction No. 04/91 to establish operational rules and position limits for authorized foreign exchange institutions managing external reserves. The directive defines active spot and forward exchange positions, mandates daily reporting of global positions via telefax by the next business day, and specifies USD conversion rates for spot, forward, and swap operations. Institutions must maintain supporting documentation for daily positions and ensure their end-of-day total positions do not exceed the limits set by the central bank.
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