Angola’s currency continues to depreciate against the euro

28 June 2018

The Angolan kwanza registered its third depreciation against the euro this month, following a new auction for the sale of foreign currency by the National Bank of Angola (BNA), at the end of which the European currency stood at 289.233 kwanzas per euro, a negative variation of 1.29%, according to the central bank.

On Tuesday the BNA auctioned 30 million euros to commercial banks to cover private operations (travel, family support, health, school fees and wages).

Seventeen banks contributed to the calculation of the new benchmark exchange rate, with the highest rate being 289.839 kwanzas and the lowest 288.411 kwanzas per euro.

During the same session, the National Bank of Angola also held a quantity auction, placing 100 million euros on the primary market to open letters of credit with the purpose of securing imports of miscellaneous goods. (macauhub)