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Thu, 10 Oct 2019 19:31 - Updated Thu, 10 Oct 2019 19:31

Bookstores on conditional exchange rate

Luanda - The exchange rate currently applied in the Angolan market conditions the operation of bookstores in Luanda, making it difficult to import materials.

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Photo: Cedida

During a round held by Angop this Thursday in some bookstores, the managers said they have difficulty exchanging Kwanza for foreign currency and make imports.

Afonso Cambundo, manager of one of bookstores in Luanda, acknowledged that it is difficult to access foreign currency to import books, a fundamental condition for the bookstore's operation.

Afonso Cambundo said that the other problem is the exchange rate practiced, which is very fluctuating, exemplifying that "a banknote of Usd 100 is 50 or 55 thousand kwanzas in the informal market, an oscillation that influences the acquisition of the banknote."

The manager explained that the banks, where the banknote would be 35 thousand kwanzas, create difficulties in the acquisition of money, being forced to alternate the purchase of currency in the Bank and in the informal market.

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