Angolan foreign exchange bureau Angola pay 149.87 kwanzas for US$1

8 September 2015

The National Bank of Angola held the second auction sale of foreign currency at to foreign exchange bureaus, providing US$10 million at a rate of 149.870 kwanzas per dollar, the bank said.

In a statement issued Monday on its website, the Angolan central bank said the sale of foreign currency took place within a maximum exchange rate range of 155 kwanzas per dollar and a minimum of 148.50 kwanzas per dollar.

In the weekly report on developments in the monetary and foreign exchange markets, the BNA said 33 of 48 exchange bureaus authorised by the National Bank of Angola took part in this second auction and in regular operating conditions.

The report, which covers the week of 31 August to 4 September, also said the central bank sold US$281.7 million and the average benchmark exchange rate of the interbank foreign exchange market at the end of the week was of 126.411 kwanzas per dollar.

Sales of foreign currency to commercial banks are the result of the BNS’s responsibility for intervening in the foreign exchange market to carry out operations defined as priorities by the government, in a context of decreasing foreign currency availability, in order to avoid a drop in stocks of food and materials as well as to prevent the risk of essential services coming to a standstill. (macauhub/AO)