Wed, 31 Oct 2018 11:48 - Updated Wed, 31 Oct 2018 11:47
Angolan currency gets depreciated by 47.17% in relation to Euro
Luanda - The accumulated depreciation of the Angolan currency, Kwanza (AKZ), in relation to the European currency (Euro) has reached 47.17%, an analysis that covers the period that goes from January this year up to the present.
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Euro and Dollar bills
Photo: THOMAS COEX
Last January, one Euro was being traded at AKZ 185.4, and now it costs 350.9 Kwanzas.
The present rate was established last Monday at the penultimate foreign exchange auction organised by the Angolan National Reserve Bank (BNA), in which it was made available Eur 40 million for the bidders (twelve commercial banks).
In the same session, the Kwanza got its highest depreciation figure in relation to the dollar as well, costing now AKZ 308.3 in comparison to the AKZ 307.1 of last Friday and the 165.92 kwanzas in January this year.
Meanwhile, the last foreign exchange auction is to take place this Wednesday.
On 09 January this year, the BNA put an end to the fixed exchange rate system and introduced the floating exchange rate system, which has reduced substantially the gap between the official exchange rate and the informal one.
Tags Câmbio de moeda
- 27/09/2018 16:28:19
Luanda - The National currency "Kwanzas" has undergone another depreciation to Euro with the European currency being traded at 344.001 Kwanzas.
- 25/09/2018 10:02:05
Luanda - The Angolan currency (Kwanza) has already reached an accumulated depreciation of 45.61 percent vis-à-vis the Euro, through the auction held on Monday by the National Reserve Bank of Angola (BNA), which set the trade of the Euro at 342.019 kwanzas.
- 27/08/2018 18:17:05
Luanda - The national currency Kwanza suffered the third depreciation in August against the Euro last Friday after the auctions of days 13 and 20, made by the National Reserve Bank of Angola (BNA).