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Angola: Euro rises to 3.12 kwanzas

Approximate reading time: 1 minute

The European currency Euro since last Monday is being traded at 3.12 kwanzas (one euro), which was the rate used at the latest currency auction organised by the National Reserve Bank (BNA) and which had the participation of 20 commercial banks.

With this new price of the Euro, the Angolan Kwanza accumulates now a depreciation level of 42.7 per cent since the BNA introduced last January the Floating Exchange System.

On the auction, held last Monday, the BNA made available 35 million euros to commercial banks.

In view of such an alteration in the price of the country’s reference foreign currency, the US Dollar this week also rose to AKZ 272.9 (one USD).

Before that, the one euro was being traded at AKZ 306.4, while one US dollar was 268.02 Kwanzas.

Meanwhile, in the informal market one euro is being sold at the price of 430 Kwanzas and one dollar at 375 Kwanzas.

Source: Angop

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