Exchange Rate in Angola
Angola - Exchange Rate (average of period)
Kwanza continued to depreciate in August due to Covid-19 and low oil prices
On 21 August, the Angolan kwanza traded at AOA 589.0 per USD. This marked a 5.4% month-on-month depreciation, while the currency was down a staggering 38.9% year-on-year and 18.7% year-to-date.
The steep depreciation reflected the twin impact of Covid-19 and low oil prices, which are dealing a blow to government finances and hurting investor sentiment. The pandemic has hammered the domestic economy, driving a fall in government revenue. Moreover, the impact of the health crisis on the global economy has weighed on prices and depressed demand for oil—a key export for Angola—further weakening the government’s fiscal position. Although crude Cabinda oil prices have recovered some lost ground since May, the price level was still down by over a third year-on-year in the January–July period, weighing heavily on the currency.
Looking ahead, prospects for the currency remain grim. The kwanza is expected to continue to depreciate against the USD this year amid lingering risk aversion over Covid-19 fears, capital outflows due to a steep twin deficit, and uncertainty over the global economic recovery and oil demand.
FocusEconomics panelists forecast the currency to end 2020 at 622.9 per USD and 2021 at 667.7 per USD.
Angola - Exchange Rate (aop) Data
|Exchange Rate (vs USD, aop)||120.1||163.5||165.8||252.9||363.0|
5 years of economic forecasts for more than 30 economic indicators.
Angola Exchange Rate (aop) Chart
Source: Thomson Reuters
|Exchange Rate||479.0||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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.
November 17, 2021
Consumer prices increased 2.16% over the previous month in October, a smaller increase than the 2.34% increase recorded in September.
November 11, 2021
The average price of Cabinda oil came in at USD 83.6 per barrel (pb) in October.
October 13, 2021
Cabinda oil prices came in at USD 74.5 per barrel (pb) on average in September, up from USD 70.9 pb in August.
October 12, 2021
Luanda-province consumer prices rose 2.34% in September over the previous month, largely in line with the 2.30% rise logged in August.
October 11, 2021
The economy returned to growth in the second quarter for the first time since Q2 2019, with GDP expanding 1.2% year-on-year and swinging from the first quarter’s 3.4% contraction.