Ver Angola

Economy

BNA makes available 162.7 million dollars to alleviate seasonal exchange rate pressure

The National Bank of Angola (BNA) announced a one-off sale of foreign currency worth 162.7 million dollars to respond to the increased seasonal demand for foreign currency.

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According to a statement published on the regulator's website, the operation aimed to strengthen the capacity of commercial banks to more quickly respond to requests from individuals and airlines operating in the country during the months of July and August.

According to the BNA, 61.1 million dollars (53.2 million euros) and 10.7 million euros were made available for individual transactions, and 90.9 million dollars (79.1 million euros) for airline transactions.

The seasonal pressure on the foreign exchange market during this period is due to the increased demand for foreign currency for international travel, as well as the need for international payments by airlines.

This measure aims to ensure greater fluidity in transactions by guaranteeing liquidity to commercial banks, avoid delays in transactions, and stabilize the foreign exchange market, preventing the devaluation of the kwanza due to the currency shortage.

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