Demand for foreign currency in Angola remains “very high”

25 March 2011

Luanda, Angola, 25 March – Angola’s central bank has sold US$3.2 billion to retail banks since the beginning of the year, the governor of the National Bank of Angola said Thursday in Luanda adding that demand for foreign currency remained “very high.”

At a meeting with businesspeople and journalists, José de Lima Massano compared the amount of foreign currency sold this year to that sold throughout 2009, which totalled US$11.6 billion.

The governor of the central bank called on Angolans to stop using foreign currency to make purchases in Angola and added that his bank was investigating where so much foreign currency was being used.

The governor said that the National Bank of Angola would publish the conditions under which retail banks could provide loans in dollars and that the central bank was at an advanced stage of introducing factoring and leasing as financial instruments. (macauhub)