Angola | 2018.01.08
NEW EXCHANGE REGIME

The Governor of the Angolan Central Bank announced on January 3 the change of the exchange rate regime. The existing administered exchange rate determined by Banco Nacional de Angola (BNA) is replaced by an exchange band characterized by the fluctuation of the exchange rate within a range, with a ceiling and a minimum limit. The new Kwanza exchange rate will be determined in auctions of currencies in the primary market. The average value of the exchange rate will be made available in the website of the National Bank of Angola as the reference exchange rate.

 

On January 4, the Monetary Policy Committee of the Central Bank has further announced that it has defined maximum and minimum limits of the foreign exchange band after analyzing the behavior of the macroeconomic fundamentals of the Angolan economy and particularly the decreasing trend of international reserves and taking into account the current imbalance between supply and demand for foreign exchange.

 

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