Angola has foreign reserves of US$5 billion

16 August 2006

Luanda, Angola, 16 Aug – At the end of July Angola had total foreign reserves of US$5 billion, as compared to US$1.814 billion between 2004 and 2005, the governor of the Bank of Angola said.

“The country’s international reserves grew from US$1.814 billion (between 2004 and 2005) to US$5 billion at the end of last July,” said Amadeu Maurício in Luanda.

Mauricio was speaking to journalists Monday evening on the 40th anniversary of Angolan banking.

Since November last year, when the exchange rate improved by around 10 percent, Angola’s national currency, the cuanza, has remained stable.