Angola abandons currency trading band

Central bank floats currency in bid to alleviate FX shortage, after IMF raises concerns

angola-web

The National Bank of Angola has removed a trading band on the country’s local currency as part of a new floating exchange rate regime.

At an unscheduled meeting of the bank’s monetary policy committee on October 23, policy-makers said the 2% range in which the kwanza currently trades was to be abandoned.

Since the beginning of the year, the kwanza has depreciated 36% against the US dollar, with the majority of its losses (23%) occurring in October. Much of the fall has been attributed to a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: