Even with the new kwanzas notes already in circulation, the national currency continues to lose value against foreign currencies in the informal market. According to the Jornal de Angola - which visited some areas of the capital where foreign currencies are sold, especially the dollar and the euro - the devaluation of the kwanza and the increase in the commercial value of foreign currencies can be justified by the scarcity of foreign currency in the face of increased demand.
According to the same newspaper, this week the 100 dollar bill was being sold for 77,000 kwanzas in the Kifangondo Martyrs' Quarter, while last week it was being sold for 75,000 kwanzas. Last week the euro was being sold for 89 thousand kwanzas and this week its value rose to 90 thousand kwanzas.
In the Sao Paulo area the dollar has an exchange rate of 76 thousand kwanzas while the value of the euro is 89 thousand kwanzas. At Mutamba, the 100 dollar bill is being sold for 78 thousand kwanzas and 100 euros for 89 thousand kwanzas.
The value of the exchange in the formal market is lower than the informal one. On the official market the 100 dollar bill is being sold for 65,322 kwanzas and the euros for 78,130.
However, the difficulty of access to foreign currencies, even in the formal market, has led citizens to look for other ways to change the currency, and despite the increase in prices, they end up resorting to the informal market.
