National Bank of Angola publishes table of interest rates offered by commercial banks

2 January 2020

The National Bank of Angola (BNA) will start publishing a table of interest rates offered by commercial banks for savings deposits with maturities of 30, 90 and 360 days, said the central bank in a statement issued in Luanda.

The central bank said the measure is intended to improve the information provided to the market, promoting transparency and a more balanced relationship between consumers and suppliers of financial services and products.

The BNA also said that the forecast for sale of foreign currency at auction, in January and February 2020, will be the equivalent of US$500 million per month.

It also said that following the entry into force of the Notice no.13/19 on 2 January 2020, which allows the sale of foreign currency by companies in the oil and gas sector to the commercial banks, the BNA will organise two ordinary auction sessions per week, on Tuesdays and Thursdays, with settlement of transactions on D+0.

At the end of each session, the BNA will disclose the amount provided, the number of participants, the minimum and maximum permitted exchange rates, as well as the average exchange rate resulting from the session. (macauhub)

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