africa Angola Currency Economy

Bank of Angola provides US$500M for auctions in August

At least 500 million US dollars is the amount of foreign currency that the Central Bank of Angola (BNA) has made available for sale at auction of price and quantity, for this August, 100 million more than the month of July.

Banco Nacional de Angola (Photo: Vandre Spellmeier)

According to a Central Bank note, after each session it will disclose, on its portal, the maximum and minimum exchange rates allowed, as well as the average exchange rate resulting from the session.

In June, BNA provided the equivalent of US $ 400 million in foreign exchange through price and quantity auctioning.

For this week, all commercial banks can participate in the auction after the suspension, imposed on 19 financial institutions, on week 22-26 July, for not having submitted the execution reports of the currencies obtained in the auction, last week (# 44/2019 of 15 July) or for running below 50%.

In week 22-26, only seven commercial banks were eligible to participate in the Central Bank currency auction, namely Standard Chartered Bank, Standard Bank, Finibanco, BPC, BDA, Angolan Commercial Bank, and 19 were excluded because they did not submit the execution of the previous edition.

The following banks , Atlantic Millennium, BAI, Caixa Geral Angola, Huambo Commercial Bank, BCI, Southern Credit Bank, Economic Bank, BFA, BIC, Rural Investment Bank, Kwanza Invest Bank, Micro-Finance Bank, BNI, Prestige Bank, Value Bank, Sol, VTB and Yetu Bank were excluded for this edition auction .

Source: Angop

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