Angolan currency depreciates rapidly against the US dollar

15 September 2015

The average exchange rate of US dollars sold by the National Bank of Angola in the week of 7 to 11 September reached 135.374 kwanzas per dollar, compared with 130.442 kwanzas per dollar in the first week of the month, the central bank said.

In a statement issued in Luanda, the National Bank of Angola also said in the same week it sold US$467.3 million.

On 10 September the central bank conducted a new auction of foreign currency for foreign exchange offices, selling US$10 million at an average exchange rate of 168.028 kwanzas per dollar, with maximum and minimum rates of 170 and 160 kwanzas.

In the previous auction of foreign currency for foreign exchange offices the average exchange rate was 149.870 kwanzas per dollar, with a maximum rate of 155 kwanzas per dollar and a low of 148.50 kwanzas per dollar.

Reuters news agency reported that the dollar exchange rate on the black market in Angola currently stands at 240 kwanzas. (macauhub/AO)

MACAUHUB FRENCH