Angola’s currency continues to lose value against the euro

9 April 2018

The Angolan currency, the kwanza, has again depreciated against the euro, losing another 1.027% in the latest currency auction conducted by the National Bank of Angola, according to information published on the central bank’s website.

At last Thursday’s session, where the Angolan central bank placed 100 million euros on the primary market to secure the import of equipment and parts and accessories, a weighted average exchange rate of 267.428 kwanzas was calculated for each euro.

The calculation of the exchange rate was established by 19 of the 26 participating banks, with the highest rate being 268.283 kwanzas and the lowest of 266.959 kwanzas per euro.

At the last auction in March, the kwanza lost 0.916% of its value to 264.709 kwanzas per euro, the currency used as the exchange rate benchmark since last January. (macauhub)