National Bank of Angola in keeps benchmark interest rates unchanged in October

30 September 2014

The key interest rates in Angola will remain unchanged next October, according to the decision taken Monday in Luanda by the Monetary Policy Committee of the National Bank of Angola.

In a statement, the Commission said that the basic interest rate or BNA Rate will remain at 8.75 percent, and the interest rates on the marginal lending facility and absorption facility will remain at 9.75 percent and 1.75 percent, respectively.

The Commission also said that Luibor, the interest rate charged amongst banks, stood at 3.63 percent in the “overnight” and 7.24 percent and 9.52 percent for maturities of 3 and 12 months, respectively.

In turn, the average benchmark exchange rate for Angola’s currency depreciated by 0.54 percent against the previous month, to 97.61 kwanza per US dollar.

In August, commercial banks bought currency in the amount of US$3.708 billion in the foreign exchange market, US$2.168 billion of which from central bank, or an increase of 8.4 percent on the previous month.

From January to August 2014, the value of sales in the forex FX market US$23.953 billion, against US$17.032 billion in the same period of 2013, representing an increase of 40.62 percent. (macauhub/AO)