Angola central bank purchases US$100 million to accumulate liquid reserves

The National Bank of Angola (BNA) bought an overall 100 million U.S. dollars at an average exchange rate of 420 kwanzas per dollar at Bloomberg FXGO platform to accumulate foreign exchange reserves, the Central Reserve said in a statement Friday.

This one-off operation to buy foreign currency on the market, which took place aimed at accumulating international reserves, the note said.

It said that the Angolan central bank plans to buy an additional 100 million U.S. dollars in the coming weeks to maintain the availability of foreign currency supply in the local market.

The central reserve bank bought 631.5 million U.S. dollars early in April at the same platform to reduce volatility of the local currency (Kwanzaa). Enditem