Banks operating in Angola to have access to euros again

18 March 2016

The National Bank of Angola (BNA) Friday plans to auction off 130 million euros to commercial banks operating in the country. These operations now depend on the percentage of credit that each bank offers, according to a statement released Thursday in Luanda.

The statement available on the website of the Angolan central bank said that of the total up for auction 90 million euros will “cover operations of companies providing services to the oil sector.”

The additional 40 million euros in currency to “meet priority expenditure requirements,” including the coverage of operations related to family support, health, education, expatriate salaries, travel and remittances.

Angola’s foreign exchange policy is now defined by the new governor of the BNA, Vernon Filipe Duarte da Silva, sworn in on 7 March by the Angolan President, replacing the previous finance minister, José Pedro de Morais.

In the week from 7 to 11 March, the National Bank of Angola did not sell any foreign currency to commercial banks operating in the country. (macauhub/AO)