Basic interest rate in Angola kept unchanged at 9.25 pct

29 April 2014

For the fifth consecutive month the National Bank of Angola kept its basic interest rate, known as the BNA Rate, unchanged at 9.25 percent as first set on 25 November 2013, the Angolan central bank said Monday.

It also kept its permanent liquidity facility rate at 10 percent and absorption rate at 1.50 percent.

According to the statement the Luibor overnight rate stood at 3.31 percent in March and at 7.47 percent and 9.49 percent for 3 and 12 months, respectively.

In the period retail banks purchased currency in the amount of US$2.518 billion on the foreign exchange market, US$1.075 billion of which was provided by the central bank and the remainder by the secondary market. The average exchange rate remained stable at 97.61 kwanzas to the US dollar. (macauhub/AO)