Angola - Us Dollar May Reach As Much As Akz 550

Luanda — Angola's currency Kwanza may reach AKz 550 per US dollar by the end of the next six months, estimated Friday the CEO of Angola Investment Bank (BAI), Luís Lélis.

This is expressed in an interview he granted to the Angolan weekly newspaper (jornal Expansão) in its Friday Edition (November 29, 2019).

According to the manager, the announcement comes at a time the exchange rate practiced by Angolan commercial banks fluctuates around an average 500 kwanzas/dollar.

"The devaluation will continue as long as the Angolan consumer continues to purchase the foreign currency in the banks," said Lellis.

The manager also pointed to the fact of the consumers and entrepreneurs to continue acquiring the goods and services abroad.

The devaluation will continue although it seems to be close to reach an equilibrium between national and foreign currencies, the managed insisted.

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