According to Expansão, since March 16, 2020, the exchange rate of the national currency against the dollar has not dropped below the barrier of 500 kwanzas. This barrier was surpassed last Tuesday, with the average rate falling by 0.73 percent, from 503 to 499.4 kwanzas per dollar.
The appreciation of the national currency against the dollar continued last Wednesday. Data from the National Bank of Angola (BNA), cited by Expansão, reveal that the purchase of each dollar was worth 492 kwanzas while the sale of each dollar was 505.5 kwanzas, making an average rate of 498.7 kwanzas for each dollar.
Last Wednesday, each euro was worth 575.89 kwanzas, corresponding to an appreciation of 10.3 percent of the national currency since the beginning of this year.
However, the current appreciation of the kwanza is still unable to balance its fall since the start of exchange rate policy in 2018, when the national currency devalued 66.7 percent against the dollar and 67.8 percent against the euro.
