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||313.7||0.0 %||Mar 11|
|Stock Market||0.1||0.0 %||Mar 08|
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March 15, 2019
The average price of Angola’s Cabinda crude oil rose from USD 59.5 per barrel (pb) in January to 65.2 pb in February.
March 14, 2019
According to the Statistical Institute (Instituto Nacional de Estadística), consumer prices in the province of Luanda rose 1.0% in February from the previous month, down slightly from January 1.1% increase and the lowest reading in over a year.
February 18, 2019
The average price of Angola’s Cabinda crude oil rose from USD 56.6 per barrel (pb) in December to 59.5 pb in January.
February 14, 2019
According to the Statistical Institute (Instituto Nacional de Estadística), consumer prices in the province of Luanda rose 1.1% in January from the previous month, down from December’s 1.5% increase and marking the lowest print since February 2018.
January 25, 2019
At its meeting on 25 January, the Monetary Policy Committee (MPC) of the National Bank of Angola (Banco Nacional de Angola, BNA) lowered the key policy rate by 75 basis points to 15.75%.