Basic interest rate in Angola increases to 9.75 pct

30 June 2015

The benchmark interest rate in Angola, the BNA rate, has been increased by 50 basis points to 9.75 percent, according to a decision from the Monetary Policy Committee of the National Bank of Angola announced Monday in Luanda.

The commission also decided to increase the permanent liquidity facility rate from 10 percent to 10.5 percent per year and keep the interest rate on liquidity absorption unchanged at 0 percent per year.

In May commercial banks purchased foreign currency in the amount of US$1.506 billion on the foreign exchange market, of which US$1.3 billion was bought from the BNA and the rest from its customers.

The average benchmark exchange rate in May depreciated by 0.91 percent compared to April, to 110.84 kwanzas per US dollar. (macauhub/AO)