First foreign currency sale by National Bank of Angola to exchange bureaux

2 September 2015

The National Bank of Angola (BNA) recently carried out the first auction sale of foreign currency directly to exchange bureaux, with transactions amounting to US$10 million at the average rate of 138.245 kwanzas per dollar, the central bank announced.

A statement posted on the Angolan central bank’s website indicated that in the auction the exchange rates used in transactions ranged between 145 and 135 kwanzas.

The central bank explained that 33 of the 48 authorised exchange bureaux in regular operating conditions took part in the auction, an operation framed in the new operational framework for exchange policy established last July.

The new framework envisages auction sessions exclusively for banking institutions and the direct sale of foreign currency to cover priority needs with respect to goods and services, as set out in the government’s programme.

It also envisages BNA’s direct sale of foreign currency to exchange bureaux, bearing in mind the social extent of operational activity and normalisation of the exchange market.

During the week of 24-28 August BNA sold foreign currency amounting to US$381.1 million. The average reference exchange rate of the interbank exchange market determined at week’s end was 126.409 kwanzas per dollar.

During the week under analysis the central bank also made a debt placement of 23.356 billion kwanzas for current management of the National Treasury, with 20.5 billion kwanzas in treasury bills and 2.6 billion kwanzas in treasury bonds. (Macauhub/AO)

MACAUHUB FRENCH