africa Angola Currency Economy Finance

Angola: Euro traded at 324,019 kwanzas

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The Angolan currency (Kwanza) has already reached an accumulated depreciation of 45.61 percent vis-à-vis the Euro, through the auction held on Monday by the National Reserve Bank of Angola (BNA), which set the trade of the Euro at 342.019 kwanzas.

During the Monday auction, the penultimate of the month of September, BNA made available 45 million Euros in the primary market for the regularization of general, private and trade operations still in possession of commercial banks, concerning the period of 2015 to 2017 (exchange arrears), which are in line with the regulation in this area, but for some reason they were not paid.

In the ambit of BNA’s foreign currency sale for the month of September, the institution reserved an overall amount of USD 700 million, including for letters of credit, through auctions which total seven already held.

Source: Angop

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