Angola’s currency appreciates marginally against the euro

31 October 2018

The Angolan currency rose slightly again against the euro during the penultimate foreign exchange auction scheduled in October, when the National Bank of Angola provided 40 million euros to commercial banks, according to official information.

During this auction, the kwanza appreciated, albeit marginally, with the European currency worth 350.369 kwanzas, in weighted average terms, against 350.963 kwanzas in the previous session of foreign exchange sales.

The change registered in the session is the third appreciation of the year by the Angolan currency against the euro, with the other two also registered in October.

Angola’s currency has already depreciated by 47.08% since the beginning of the year, when the National Bank of Angola replaced the fixed-rate exchange system with a floating exchange rate. (macauhub)