12 °c
London
Wednesday, June 29, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Angola

Angola’s central bank says sells more than US$300M to commercial banks

FurtherAfrica by FurtherAfrica
April 11, 2016
in Angola, Banking, Economy, Government, Infrastructure, SADC
Reading Time: 1 min read
1.5k 79
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Angola central bank has sold more than $300 million to commercial banks over the past week to stabilise the foreign currency market, it said in a statement on Sunday.

The Bank of Angola said it had injected $314 million into the system between April 5-7, amid an acute hard currency crunch which saw the kwanza weaken by more than 30 percent against the dollar last year.

A slide in the price of crude oil has hit Africa’s second largest oil exporter of the commodity, leading to chronic forex shortages and fuelling a thriving black market for currency.

Oil accounts for more than 95 percent of foreign exchange receipts.

On Sunday, the central bank’s website quoted the kwanza within a 162.082-163.703 range to the dollar, but it was trading much weaker, at around 440/dollar, on the informal market.

Last week, the central Bank of Angola said it had cut the amount of hard currency travellers could take abroad to $10,000 from $15,000, under new rules to cope with a decline in foreign exchange reserves.

Source: Reuters

Related

Tags: AngolaBanco national de AngolaCentral BankCurrencyIMFkwanza
ScanSendShare632Tweet395Share111Pin142Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

S&P Analysis: New African refining projects to cap continent’s crude exports
Energy

Angola joins the EITI as Africa’s 28th member

by Energy Capital & Power
June 29, 2022
Mozambique picks Societe Generale to advise state oil company on funding
Economy

SocGen CEO sees organic Africa growth in ‘uncertain climate’

by FurtherAfrica
June 29, 2022
Economy

Standard Bank estimates inflation drop in Angola in around 16.1%

by FurtherAfrica
June 28, 2022
Government

Ramaphosa urges for UN Security Council reform

by FurtherAfrica
June 27, 2022
Energy

TechnipFMC awarded Angola offshore subsea contract

by Energy Capital & Power
June 27, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

The tripartite network theory in the gold mining industry: a lesson for Africa
Commodities

Ethiopia’s gold export generated US$513.9M in 11-month

by FurtherAfrica
June 29, 2022
0

Ethiopia has obtained 513.9 million US Dollars from the export of gold in the last eleven months of the current...

Read more
S&P Analysis: New African refining projects to cap continent’s crude exports

Angola joins the EITI as Africa’s 28th member

June 29, 2022
Mozambique picks Societe Generale to advise state oil company on funding

SocGen CEO sees organic Africa growth in ‘uncertain climate’

June 29, 2022

UK to guarantee US$2B of AfDB debt to boost climate fight

June 29, 2022

Kenya inks MoU for avocado processing in Kisii

June 29, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?