Bureau de change in Angola will be able to buy foreign currency directly from the central bank

7 August 2015

The National Bank of Angola (BNA) in the next two weeks will launch specific auctions to supply foreign currency to authorised “bureau de change”, the governor of the central bank said Thursday in Lunda.

José Pedro de Morais, at the end of the 8th ordinary session of the Joint Economic Commission and the Commission for the Real Economy of the Cabinet, said the bureau de change in Angola had so far bought currency through direct sales that BNA makes to commercial banks.

The measure is aimed, among other things, to provide greater transparency in the sale of foreign currency to the currency exchange dealers, said the governor cited by Angolan news agency Angop.

According to the governor of the Angolan central bank this decision is an opportunity for foreign exchange shops to return to normal operation and become part of a process of foreign exchange sales fragmentation introduced the BNA, which includes two other auctions.

The first, held on a regular basis, will be an auction to sell foreign currency to priority sectors qualified by the government – catering, food, medicines, raw materials, parts and accessories – the second, of a more sporadic nature, is intended to meet needs that are not met by the regular auction. (macauhub/AO)