africa Angola Banking Currency Economy

Angola Central Bank puts €130M on market

Approximate reading time: 2 minutes

The National Reserve Bank of Angola (BNA) Monday held two auctions of foreign exchange, placing the global market value of 130 million Euros, under the new monthly modality of foreign exchange sales.

In the first auction, the Bank placed the amount of EUR 30 million to cover general operations, excluding advances to tradings, offshores, sole proprietorships, salaries above EUR 15.000  and replacement of exchange position.

From this session, EUR 9.9 million were sold and the weighted average exchange rate of AKz 324,158 per EUR, with the participation of only two banks, BPC was EUR 7.5 million and the VTB was EUR 2.4 million of euros.

In the second session the Plafond of EUR 100 million was allocated for opening and confirming letters of credit, with the aim of ensuring the importation of various goods.

This session did not result in any change in the exchange rate and 21 banks participated in the above mentioned auction.

BCS, BFA, BPC and SBA each received 9.8 million Euros, the BE, Keve, Sol and BTV were contemplated with 7.8 million Euros.

The banks ATL and BAI each received  5.9 million and 49 Euros.

In this session the BIC received 3.5 million Euros, while the BCH received 2.9 million Euros.

BCGA fell 2.5million Euros, while the BCA was contemplated with 2.3 million Ruros.

The BCI received 1.9 million, while the BVB acquired 1.6 million.

Last Friday, the BNA announced that it would disclose, on the last business day of each month, the amount and timing of its interventions in the foreign exchange market for the following month, with the aim of giving greater predictability to the market.

Thus, for this month of September, the Central Bank will sell the equivalent of USD 700 million, including credit limit letters, through 8 (eight) auctions.

Source: Angop

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