africa Angola Currency Economy

Angola’s BNA releases €50 million

Approximate reading time: 1 minute

Angolan National Reserve Bank (BNA) Wednesday made available 50 million Euros to commercial banks to cover the operations of commercial and private interests, as part of its second session of sale of foreign currencies of September.

In the first session, BNA made available EUR 30 million, with reference exchange rate of AKz 329,537 per EUR, a depreciation of 5,379 Kwanzas.

Last Monday, each Euro was quoted at 324,158 kwanzas.

With the new exchange rate, the local currency has accumulated a depreciation of 43.5 percent since the entry into force of the floating exchange rate regime.

Fourteen banks have contributed to the calculation of the reference exchange rate, with the highest rate standing at AKz 330,479 and the lowest at AKz 327,951 per EUR.

Source: Angop

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