africa Angola Currency Economy Finance

Angola Kwanza under new depreciation against Euro

Approximate reading time: 1 minute

The local currency, Kwanza again lost its value with a depreciation of 1.027 percent, the result of a further auction of foreign exchange, held last Thursday (5) by the National Bank of Angola (BNA).

In this session, where the BNA placed on the primary market the amount of 100 million Euros to ensure the importation of equipment and parts and accessories, the weighted average exchange rate of AKZ 267.428 per EURO was calculated.

They contributed to the calculation of the reference exchange rate 19 of the 26 participating banks, with the highest rate being AKZ 268,283 and the lowest AKZ 266,959 per EURO.

As a result of this auction, the US Dollar is being exchanged at 218, 487 kwanzas in the sale and AKZ 218,012 in the purchase.

The last BNA auction held in March, Kwanza suffered a depreciation of 0.916 percent against Euro, costing AKZ 264,709 for each Euro, the currency used as the benchmark of the exchange rate since last January.

Source: Angop

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