The National Bank of Angola expects to place foreign currency up for auction in the accumulated equivalent value of US$800 million in the months of March and April, the central bank said in a statement issued in Luanda.
This is an indicative projection as “there may be adjustments based on the progress of external accounts,” the BNA added.
In January and February, the BNA placed US$1.11 billion up for auction, but demand fell short of supply and just over US$795 was sold.
On average 14 commercial banks participate in the central bank’s currency auctions.
The BNA’s Monetary Policy Commission decided in November 2019 to stop the purchase, by the central bank, of foreign currency from oil companies, and that these companies can now sell it directly to commercial banks starting on 2 January 2020.