8 February 2013

Angola: Reserve Bank Discourages Use of U.S.D

Luanda — Angola's Reserve Bank (BNA) is developing actions that aim at correcting the habit of using American dollar as a mean of payment in transactions at the same time with Kwanza, the national currency, says its vice governor, António André Lopes.

BNA is developing efforts to de-dollarize the country's economy and making Kwanza the only currency for domestic payment, at national level.

The payments must be done through national currency and only in case of payment abroad it must be used USD or other foreign currency, but through the mechanisms set by BNA, says the governor when presenting the new notes to commercial shops in Bela Shop.

On the occasion, he said that the new notes of Kwanza have greater standards of security and have also new cultural elements, as well as other related to the Angolan hydrographic richness.

The new metallic coins will come into force on February 18, 2013.

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