Angola’s National Bank starts selling dollars to commercial banks again

6 March 2018

The National Bank of Angola sold US$90.1 million in currency to 16 commercial banks, in United States dollars, after in 2017 it only sold euros in foreign currency auctions, according to recent information from the Angolan central bank.

After failing to sell dollars to banks in 2017 – which happened for the first time in 18 years – the BNA “made direct sales of foreign currency to cover the operations of companies providing services to the oil sector, in the amount of US$90.1 million,” it said in the statement.

The dollars were sold at an exchange rate of 213,361 kwanzas to the dollar, with the National Bank of Angola excluding the following charges of oil companies: general services, consulting services and insurance, food, themselves and in favour of offshore entities.

The Angolan press reported that the return of the dollar to central bank sales may be a sign of some easing on the restrictions set by the US Federal Reserve on access to the US currency by Angola. (macauhub)