Angola : Depuis Janvier, la monnaie Angolaise perd 34% de sa valeur par rapport a L’Euro

By | June 8, 2018

The kwanza, Angolan currency has accumulated a depreciation of 34.1% against the euro, after the auction of 25 million euros on Wednesday by the National Bank of Angola (BNA), to replace the position of exchange of commercial banks.

During this session, an average exchange rate of 281,518 kwanzas per euro was calculated, with a variation of 1.21% compared to the exchange rate of 185.40 kwanzas in January, the month when the National Bank of Angola introduced a floating exchange rate system to replace the previous fixed rate system.

As of January 9, the dollar is now valued at 239 kwanzas against 165.92 kwanzas, a devaluation of 30.56%.

In addition to the 25 million euros to readjust the foreign exchange position of the commercial banks, the National Bank of Angola also sold 196.6 million euros to cover commercial operations (of goods, services and capital) and EUR 65.8 million to cover private operations, namely travel, education, health, home help and foreign workers’ salaries.