16 February 2013

Angola: BNA Warns Taxi Drivers Against Price Speculation

Luanda — The National Reserve Bank (BNA) Friday in Luanda urged the taxi drivers and machine operators to avoid speculative prices in private transport and other behaviours that affect the interests of the taxi users on the excuse of the introduction of new banknote series.

The appeal followed the meeting the BNA managing board held Friday in Luanda with representatives of taxi drivers, mototaxi drivers and machine operators.

The BNA is engaged in awareness and clarifications of economic agents on the need and importance to introduce new series of banknotes and coins of the Kwanza in the national economy.

During the meeting, the governor of BNA, José de Lima Massano, assisted by his deputy Lopes André, spoke of the need of introduction of the bank notes and coins into the market.

According to him, the current series of Kwanza has been in circulation for more than 14 years and lost its characteristics in the context of modern safety standards.

The coins will come into circulation next Monday, February 18.

While the banknote of 50, 100, 200, 500, 1000, 2000 and 5000 Kwanzas will be place gradually from March to June this year.

A new series of banknotes and coins of Kwanzas was officially launched by the National Reserve Bank (BNA) on January 29, 2013.

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