Exchange Rate in Angola
Angola - Exchange Rate
Kwanza weakens further amid controlled exchange-rate adjustment
The Angolan kwanza weakened further in recent weeks as the Central Bank (Banco Nacional De Angola, BNA) continued to pursue its controlled adjustment of the exchange rate with the aim of gradually eliminating the gap between the official exchange rate and the black-market rate. To mitigate risk of substantial depreciation, the Bank has de facto capped the maximum depreciation of the exchange rate against the euro at 2.0% per auction.
During its latest auction held on 12 October, the National Bank of Angola provided commercial banks with EUR 15.5 million with a weighted average exchange rate of AOA 349.2 per EUR in the auction.
On 12 October the currency traded at AOA 304.7 per USD. The currency was down 6.5% in month-of-month terms and it lost nearly half of its value in year-to-date and in year-on-year terms. As a result, the difference between the official and black-market exchange rates has diminished further: At the beginning of October the kwanza traded at AOA 360 per USD in the parallel market, according to local media reports.
The determination to move to a fully free-floating exchange rate regime has gained further credibility following the government’s decision in August to seek financial support from the IMF in exchange for commitment to structural reforms.
Angolan Kwanza Exchange Rate Forecast
FocusEconomics panelists expect the Angolan kwanza to end 2019 at 323.0 per USD and 2020 at 345.0 per USD.
Angola - Exchange Rate Data
|Exchange Rate (vs USD)||97.60||102.1||135.3||165.9||165.8|
5 years of economic forecasts for more than 30 economic indicators.
Angola Exchange Rate Chart
Source: Thomson Reuters
|Exchange Rate||324.5||0.0 %||May 13|
|Stock Market||0.1||0.0 %||May 13|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 14, 2019
According to the Statistical Institute (Instituto Nacional de Estadística), consumer prices in the province of Luanda rose 1.1% in April from the previous month, down slightly from March’s 1.2% increase.
April 17, 2019
The economy returned to growth in the final quarter of 2018, according to national accounts data released by the Statistical Institute (INE) on 17 April.
April 15, 2019
According to the Statistical Institute (Instituto Nacional de Estadística), consumer prices in the province of Luanda rose 1.2% in March from the previous month, up slightly from February’s 1.0% increase.
April 11, 2019
The average price of Angola’s Cabinda crude oil rose from USD 65.2 per barrel (pb) in February to a five-month high of USD 66.8 pb in March.
March 29, 2019
At its meeting on 29 March, the Monetary Policy Committee (MPC) of the National Bank of Angola (Banco Nacional de Angola, BNA) kept the key policy rate stable at 15.75%.