Regulation (NAP) - Setting the Exchange Rate of the 'New Family of Dobra'

CO IGO
.P 99
Revocation Data: NAP 17/2009
ENTRY INTO FORCE
01/01/2018
ISSUE DATE
08/12/2017
DOC NO. PAGE 1/1
21/2017
NAP
PERMANENT APPLICATION STANDARD
Having considered:
Subject: Setting the Exchange Rate of the "New Family of Dobra" Considering what is stipulated in No. 3 of the Single Article of NAP No. 011/2009 - Amendment to the Exchange Regime, and under Article 6 of Decree-Law No. 32/99 - "Exchange Law", which grants the Central Bank of São Tomé and Príncipe the competence to regulate the functioning of the exchange market; Given the need to convert, for the New Family of Dobra, the value of the exchange rate between the Dobra and the Euro in force under Article 4 of Decree-Law 11/2016 - "Creation of the Conversion Rate", In these terms, the Administrative Council of the Central Bank of São Tomé and Príncipe resolves as follows:
Article 1.
(Subject Matter)

1. This NAP sets the Euro purchase exchange rate at 24.50 Dobras.
2. The use of a rate different from that established in the preceding number of this NAP is subject to the application of the sanction provided for under current legislation.
   Article 2.
   (Revocation Clause)
   This standard revokes NAP No. 17/2009, of December 31, after the end of the simultaneous circulation period, established on June 30, 2018.
   Article 3.
   (Entry into Force)
   This NAP enters into force on 01/01/2018.
   Central Bank of São Tomé and Príncipe, December 08, 2017.
   PROPOSER(S)
   C.A.