The Financial Markets newsletter also reveals that the kwanza has already devalued 26.35 per cent against the US dollar since the beginning of the year.
This Tuesday, according to the official rate of the National Bank of Angola (BNA) each dollar bought 660.96 kwanzas, while one euro was worth 780.86. In the parallel market ('kinguilas') the kwanzas were being traded at 795 and 900, for each dollar and euro, respectively.
According to preliminary data from the BNA, the volume of foreign exchange placements in October was 85 million dollars, indicates the newsletter. The Angolan Eurobonds' yields (interest) registered growth, it adds. Palanca I with a 10 year maturity (issued in 2015), Palanca II with a 10 year maturity (issued in 2018) and Palanca III with a 30 year maturity (issued in 2018), grew 0.41 percentage points (p.p.), 0.22 p.p. and 0.22 p.p., being traded at 13.204 percent, 12.523 percent and 12.231 percent, respectively.
"The behaviour of the Eurobonds yields was influenced by the reduction in the price of oil on the international market," reads the analysis. The paper also highlights the negative performance of commodities in October, with the exception of wheat.
The price of Brent oil barrel, the main reference for Angolan exports, stood at 37.46 dollars at the end of the month, registering a negative accumulated variation of 8.52 percent compared to September, "influenced by the increase in restrictions in many countries due to the second wave of the new coronavirus, especially in the USA and Europe".
