30 August 2014

Angola: Credit to Economy Reached Akz 3.2 Billion in July

Luanda — The credit to the economy in the country reached Akz 3.2 billion (Usd 32 million) in July this year, corresponding to a rise of 19,15 percent in the last 12 months, Angop learned from a press release from the Angola Reserve Bank (BNA)'s Monetary Policy Commission (CPM).

The release that reached Angop, followed the 8th ordinary session of the CPM on Thursday that focused on analysing the evolution of the country's monetary and financial situation.

According to the source, in July this year, the commercial banks obtained foreign exchange of Usd 3.765 million from the exchange market, Usd 2.0 million from BNA, that is, an increment of 9,3% against the previous month.

From January to July 2014, the total volume of sales of foreign values on the exchange market reached Usd 19.8 million, against Usd 12,1 million of the previous period of 2013, representing an increase of 63,33%.

On the primary exchange market, the reference average exchange rate rose by 0,51% against the previous month that recorded Akz 97,08 per US Dollar, the source adds.

On the other hand, the source adds, the monthly inflation reached 0,61%, which was higher by 0,09% as compared with that of same period of 2013. The inflation over the last 12 months stood at 6,98%.

Class 05 (furniture, domestic and maintenance equipment with 1,41%, was that which varied most), while Class 1 (foodstuffs and non-alcoholic drinks reached 0,20%), which contributed most to the inflation recorded in the month in respect.

It says that the Overnight LIBOR stood at 3,31% a year in the maturities of three and 12 months at 7,33% and 9,56% a year, respectively.

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