24 January 2018

Angolan Kwanza Loses 2 Per Cent to Euro

Luanda — The Angolan Kwanza (AKZ) has just suffered a 2 per cent devaluation in relation to the Euro, now costing AKZ 253.7 for one Euro, as a result of the fifth Foreign Exchange Auction organised last Tuesday by the National Reserve Bank (BNA).

With this auction - after the ones held on 09 and 16 January, following the adoption by the BNA of the floating exchange rate regime - the overall depreciation level of the kwanza vis-a-vis the European money (now the reference foreign currency for the country's main exchange rate) reached 27 per cent.

The auction, which made available 81.8 million Euros, was held already having into account the 2 per cent maximum and minimum oscillation limit set recently by the BNA, which commercial banks and other financial institutions must not violate in their own sales.

The fifth auction of foreign exchange in 2018 had the participation of 26 commercial banks.


Ex-President's Son Detained Over $1.5 Billion Corruption Case

Jose Filomeno dos Santos, the former head of Angola's sovereign fund, is accused of misappropriating millions of public… Read more »

See What Everyone is Watching

Copyright © 2018 Angola Press Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.