National Bank of Angola increases sales of foreign currency to commercial banks

19 January 2016

Retail banks operating in Angola were able to buy foreign currency in the amount of US$187 million from the National Bank of Angola throughout the week of 11-15 January, according to a statement issued by the Angolan central bank.

Sales of foreign currency, which appear in weekly reports on developments in money and foreign exchange markets, were only US$7.5 million in the first week of 2016 and US$135.1 million in the last week of 2015, the lowest figures in the last three months.

Sales in the second week of January were at an average exchange rate of 156.388 kwanzas per dollar, unchanged from the previous week.

The BNA reported that the sale of foreign currency in the last week “was essentially allocated to cover priority transactions,” namely US$122.2 million dollars to cover general requirements of commercial banks.

There was also a record of US$6.6 million in foreign exchange for travel operations and remittances abroad and US$58.2 million for coverage of transactions worth less than US$20,000. (macauhub/AO)

MACAUHUB FRENCH