Ver Angola


Electronic platform on kwanza currency exchange comes into force on April 1

The new electronic platform for trading the exchange rate will come into force on 1 April, the National Bank of Angola (BNA) said in a meeting with bank representatives.


"The BNA confirms 1 April for the adoption of the new trading platform," reads the minutes of Friday's meeting between the regulator and the Angolan banking association.

In the document, to which Lusa had access, the regulator explains that it was informed by Bloomberg "that 70 percent of banks and oil operators already have access to the platform, in 'autonomous' or integrated mode, and that they will offer distance training for the needy".

This new platform will allow oil companies operating in the country to buy directly the dollars they need, influencing the exchange rate, which the BNA wants to continue training freely.

"The formation of the reference exchange rate will also be altered by the use of the Bloomberg platform, starting to capture the operations carried out by the oil and gas sector," reads the minutes of the meeting.

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