Ver Angola

Banking and Insurance

Mercado bought the 320 million dollars in debt placed by the National Bank of Angola

The securities portfolio of the National Bank of Angola (BNA) worth 321 million dollars placed on the market through the Stock and Debt Exchange (Bodiva) has been completely sold, the institution announced.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

The total amount transacted was 321.3 million dollars, which allowed for an absorption of 198.9 billion in national currency, according to a statement from the BNA.

The initiative to issue bonds in foreign currency was announced on 22 May, following the last meeting of the Monetary Policy Committee, in an attempt to stop the depreciation of the national currency, ease the lack of foreign exchange on the market and reduce the growth of inflation.

The national currency had a record devaluation this Monday and exceeded 800 kwanzas per dollar for the first time.

According to the financial information agency Bloomberg, the kwanza is losing for the seventh consecutive day, reaching 804.37 kwanzas per dollar on Monday afternoon, becoming the second worst currency in the world compared to the dollar.

The kwanza has already dropped 37 percent since May 11, following the government's decision to end state fuel subsidies, which led to strong social protest and a rise in prices.

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