Instruction No. 6/2022, of 24 June 2022, which entered into force on the following day, updated the limits for the sale of foreign currency by Payment Service Providers and Exchange Offices, as follows:

• USD 5,000.00 (or equivalent in other foreign currency) applicable to remittances from Angola to abroad, per month, per sender; and
• Remittances received from abroad are no longer subject to regulatory limits.

Due to the changes introduced by the referred Instruction, BNA, through Circular Letter No. 4/2022, of 24 June 2022, which came into force on the following day, defined the rules and limits applicable to Commercial Banks in carrying out these operations, establishing that:

• When the sender is not a client of the Commercial Bank and the operation is considered an occasional transaction, the limit of USD 5.000,00 (or equivalent in other foreign currency), per month, per sender, applies;
• When the payer is a client of the Commercial Bank, the overall annual limit of USD 250.000,00 established for the total foreign exchange operations that may be carried out by each client applies;

When the service is provided through an independent International Payment Service Provider, the limits imposed by that entity must be respected.

For more information on this Banking Alert please contact:
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