03/21/2015
Currency sales fall back to…..
100 Dollars reaches 17,000 Kwanzas
The weekly sales of foreign currency from the National Bank of Angola (BNA) to commercial banks fell again for the second consecutive week, having been encrypted in 235.6 million euros between 9:13 March.
According to the weekly report on the developments in money and foreign exchange markets, the BNA, to which the Lusa agency now had access, sales at auctions held by the Angolan central bank in this period (equivalent to US $ 250 million) compared with 399 , $ 4 million (EUR 376 million) the previous week.
This is a decrease of 37 percent from the previous and comparing even with currency sales in the last week of February, 600 million (EUR 566 million), and EUR 450 million (424 million euros) in the anterior.
Sales by the BNA in the second week of March were realized at an average rate of the interbank foreign exchange market reference 107.434 kwanza (94 cents) for every dollar was little changed after consecutive weeks to rise.
In November 2014, a dollar was worth less than 100 kwanzas.
At issue is, above all, the decrease in sales revenues of crude oil barrel by Angola, which has lowered the entry of foreign currency in the country, causing a shortage of dollars in the market and making it difficult to pay the companies to international suppliers.
Due to restrictions imposed by commercial banks in the survey of foreign exchange, given the shortage of US currency, AO24 back today in Luanda the streets to see the sale and purchase of dollar in the informal market, confirmed that the sale of a $ 100 bill in 'kinguilas' is on the rise, according to the sellers found at our website, confirmed that the sale of a note $ 100 costs 17,000 Kwanzas and the purchase of the same amount by 15,000 Kwanzas, the trend is up more.
The governor of the BNA said, on 06 February last, that "wrong anticipations" of the oil crisis by economic agents are the cause of difficulties in access to foreign exchange, because the monthly sales secure, on average, in the 1,500 million dollars .
José Pedro de Morais said that there is no reason for the difficulties reported on widespread access to dollars at commercial banks.
The Governor hinted that the problem is in the protective measures adopted by banks, due to the effects of the oil crisis, in particular with the intention to create stocks to prevent any difficulties.
formal market
For every $ 100
Buy .................. .106.370 kwanza
Sale ..................... 107.434 kwanzas
informal market
Buy .................. 15,000 kwanzas
Sale ..................... 16,000 kwanzas