According to the report on the Evolution of the Exchange Market/2021, released by the National Bank of Angola (BNA) on its website, of the total purchased, 3.3 billion relate to the oil sector, "about 3.1 billion from the Treasury 820.5 million from the diamond sector and 675.7 million dollars from the BNA, representing around 8.5 percent of the total purchased by banks from these sources".
In the period under review, there were "one-off interventions by the BNA in the foreign exchange market", with banking institutions buying 79.5 percent less foreign exchange from the central bank compared to the same period in 2020.
The report also adds that the entry into force of Notice No. 04/2021, of 5 April 2021, "which provides that exporting companies receive revenues from banks domiciled in the country, as well as the entry of airlines and insurance companies on the Bloomberg platform (FXGO) also contributed to the reduction of demand and greater supply for foreign currency".
The BNA also adds that "it was notable" its lesser intervention in the sale of foreign currency, as it did so "in a timely manner and whenever necessary, ensuring a normal functioning of the foreign exchange market and greater leeway to manage the country's foreign assets in the face of the pandemic".
The document also notes that in 2021 the foreign exchange market was more stable, having been marked by the appreciation of the national currency against the main foreign currencies, "in a scenario in which the supply of foreign currency exceeded demand in commercial banks".
See the full report here.
