Regulatory Alerts1993-01-25
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Instruction No. 1/93 on the Public Sale of Foreign Exchange
The Governor of the National Bank of Angola issued Instruction No. 1/93 to regulate the public auction of foreign exchange as part of Angola's macroeconomic restructuring program. The directive establishes a National Commission responsible for setting minimum exchange rates, managing the bidding process, and ensuring transparent allocation of USD-denominated currency lots. It mandates strict procedural rules for proposal submission, classification based on descending price offers, and the subsequent issuance of certificates and refunds for unfulfilled bids.
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