Africa-Press – Angola. The National Bank of Angola (BNA) announced a one-off sale of foreign currency worth US$162.7 million (€143 million) to respond to the increase in seasonal demand for foreign currency.
According to a statement published on the regulator’s website, the operation aimed to strengthen the capacity of commercial banks to respond more quickly to requests from individuals and airlines operating in the country in the months of July and August.
According to the BNA, 61.1 million dollars (53.2 million euros) were made available, 10.7 million euros for private operations and 90.9 million dollars (79.1 million euros) for airline operations.
The seasonal pressure on the foreign exchange market during this period is due to the increased demand for foreign currency for international travel, as well as the need for international payments by airlines.
This measure aims to ensure greater fluidity in transactions by guaranteeing liquidity to commercial banks, avoiding delays in operations, and stabilizing the foreign exchange market, preventing the devaluation of the kwanza due to foreign exchange shortages.
For More News And Analysis About Angola Follow Africa-Press
