Bank of Angola sells €26 million for expatriates salaries

The Banco Nacional de Angola (BNA) sold over the last seven days €166.4 million (US$185.9 million) to cover several operations, with stress to salaries of expatriate workers that took €26 million.

According to BNA, as compared to the previous week there has been an increase of €77.8 million when the Reserve Bank released €88.6 million to the commercial banks.

Of the amount released in the period in respect, €30.4 million went to cover operations in various sectors, €26.6 million for credit letter operations in various sectors of the economy.

In the same period, the commercial banks absorbed €17.9 million for operations in the oil sector, €14.7 million for air companies’ costs and €12.6 million for banks’ general needs.

The  Banco Nacional de  Angola also released €12.5 million to cover operations in ministries and organs of the State, €8.9 million for travels, family aid, health and education, €8.9 million for credit cards, €5.1 million for telecommunications and €3.4 million for the insurance sector.

The average exchange reference rate for sales on the primary foreign exchange market, calculated at weekend was US$ = Kz 166,743, and €=Kz 186,297.

Source: Angop