africa Angola Banking Currency Economy Finance

Angola: Euro worth 289.2 kwanzas

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Angola’s National Reserve Bank (BNA) announced this month a third round of devaluation against the Euro.

Tuesday auction put the European currency at 289.2 kwanzas.

BNA placed in the primary market the amount of EUR 30 million to cover private operations (travel, family support, health, school fees and wages).

With this auction, the domestic currency Kwanza recorded a depreciation of 1.29 percent against the Euro.

It accumulates a loss of 36 percent, since the floating exchange rate regime entered into force on January 9.

The US dollar is now priced at 247.9 kwanzas, a cumulative depreciation of 33 percent.

Commercial Bank sector is trading one Euro at 295 kwanzas, while the US dollar is worth 253 kwanzas.

On Wednesday, unofficial market sold Euro at 445 kwanzas and the Dollar cost 375 kwanzas.

Source: Angop

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