Angola: BNA sells €59.4 million for letters of credits

The National Reserve Bank of Angola (BNA) sold in the last seven days 169.4 million euro (about USD 189.3 million) to the financial market, of which 59.4 million euro were sold through letters of credit ensured by the Angolan central bank.

The 59.4 million euros served to cover operations in the sectors of agriculture, industry, fisheries and food, according to the central bank’s weekly monetary and exchange rate report, which ANGOP had access to on Monday.

According to the document, the reduction of 34.4 million euro is observed, since in the previous period it was sold 203.8 million euro to the financial market.

In the period under review, BNA made available EUR 53.7 million to cover oil sector operations, EUR 33.0 million to cover operations in various sectors, EUR 9 million for travel, family assistance, health and education.

Nine million euro were also made available to cover credit card operations, 1.1 million for the health sector, 2.4 million for auxiliary branches of the State, 1.6 million for exchange refund and 207. 4 thousand to cover salary operations for expatriates.

In this report, the central bank highlights the average USD reference exchange rate of the primary foreign exchange market, which maintained at USD = Kz 166.746.

For the Euro, the average reference exchange rate calculated up to the end of the week was EUR = Kz 186.300.

Source: Angop

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