Manuel Tiago Dias said that operations continue to be carried out between oil and diamond companies, the central bank, but, "unfortunately", without the national treasury, an "important actor".
According to the governor of the National Bank of Angola (BNA), the treasury was present regularly until last May, when it withdrew, meaning that many banks that carried out transactions with it were left with limited access to currency.
"But we have some banks that already have a long-standing relationship with companies, whether in the oil sector or the diamond sector, that continue to acquire foreign exchange and what we have been observing is that the foreign exchange acquired at the level of the system as a whole, in recent months, tend to increase, which is why the stability of the exchange rate is observed at the formal market level", he explained.
The BNA governor reaffirmed that the exchange rate is floating, giving the example of what happened between the months of May and June.
Manuel Tiago Dias highlighted that, in the past, the reduction in supply at market level was around 40 percent, compared to the most recent data, from January to October this year, when there was a smaller reduction, meaning that in recent months has been registering some increase in the money supply.
"It is obvious that, from the perspective of commercial banks, they will hear contradictory opinions, because there are some that, due to the traditional relationship of trust that they already had with companies, continue to acquire currency in relatively large amounts and there are others that, unfortunately, they buy much smaller amounts", he said.
In general, continued Manuel Tiago Dias, foreign currency supplies reduced, remembering that this influenced the reduction of 13 billion dollars in export revenues.
"The context has changed significantly and we all have to get used to this new context", he stressed.
The regulator reinforced that its intervention in exchange rate management occurs when any violation of the established rules is found and which are known to all participants.
"For example, we found that there were behaviors that were reprehensible and, because inexplicable, from our perspective, when an institution in a space of less than three minutes makes 'bids' with three rates, which completely deviate from what is normal, obviously, there is intervention from the National Bank of Angola to call this institution to reason", said Manuel Tiago Dias.
The person in charge said that the central bank intervenes in the same way when there is a deal concluded between two institutions and one of the parties, unilaterally, understands that it should not continue with the deal, this constituting one of the violations of market rules.
Regarding the difference between the official and parallel exchange rates, the BNA governor explained that transactions essentially occur in the informal market to buy and sell notes, different from what happens in the formal market.
"It is obvious that, with the possibility of transactions being carried out at the formal market level, there is a shortage of banknotes, because the import of banknotes by commercial banks tends to reduce more and more", highlighted Manuel Tiago Dias, highlighting that still there is circulation of banknotes, coming from citizens with salaries in foreign currency, from transactions carried out in foreign currencies and from economic operators with deposits abroad.
