Angolan bank sells 300 million dollars to get around shortage of foreign currency

Banco angolano vende 300 milhões de dólares para contornar falta de moeda estrangeira

The National Bank of Angola (BNA) announced on Thursday that all of the 300 million dollars made available in the foreign exchange sales session had been purchased, at an exchange rate of 828.261 kwanzas per dollar.

The operations were carried out on Wednesday on the Bloomberg platform and involved the participation of 19 commercial banks, the BNA said in a statement, quoted by the newspaper Negócios.

Angola's central bank has made the national treasury's currency available to try to get around the shortage of foreign currency, despite the fact that availability increased in January, from 600 million dollars to 836 million dollars.

Last week, the governor of the BNA admitted that there is less foreign currency available, due to the reduction in export revenues, but said that the banks have been buying, so there is no justification for not making foreign currency available to their clients.

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