Exchange Rate in Angola
Angola - Exchange Rate
Angolan Central Bank devalues kwanza amid deepening financial crisis
The Angolan kwanza (AOA) continued losing ground against the U.S. dollar in April, thus continuing the trend that began in mid-2014. The fragile currency reflects the difficulties Angola is facing amid depressed oil prices and acute shortage of foreign currency. On 19 April, the Angolan kwanza traded at 165.7 per USD, which was 4.3% weaker than on the same day in March and a stark 51.8% weaker on an annual basis. The AOA has lost 22.6% of its value since the start of this year.
The ongoing depreciation of the kwanza follows the latest decision by the Central Bank (Banco Nacional de Angola) in early April to devalue the currency in the interbank market. The Bank has devalued the kwanza three times this year with the most significant devaluation occurring in January. The kwanza has faced substantial pressure as a deterioration of Angola’s oil revenues has dried up dollar liquidity in the market. Limited dollar supply coupled with foreign exchange restrictions has contributed to the development of a thriving parallel market where the premium for U.S. dollars is significantly higher than at the official exchange rate as the Central Bank has been artificially supporting the kwanza at current levels.
Met the why particular Consensus Forecast panelists expect the kwanza to end this year at 178.8 AOA per USD. Next year, the panel sees the currency trading at 192.3 AOA per USD.
Angola - Exchange Rate Data
|Exchange Rate (vs USD)||97.60||112.1||135.3||165.9||165.8|
5 years of economic forecasts for more than 30 economic indicators.
Angola Exchange Rate Chart
Source: Thomson Reuters
|Exchange Rate||239.3||0.0 %||Jun 14|
|Stock Market||0.1||0.0 %||Jun 13|
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June 14, 2018
The economic climate indicator (ICE, Indicador de Clima Económico) published by the Statistical Institute rose from minus 15 points in the previous quarter to minus 14 points in the first quarter of this year.
June 14, 2018
Consumer prices in the province of Luanda rose 1.20% in May in monthly terms, ticking up marginally from the previous month’s 1.16% month-on-month increase.
May 24, 2018
At its monetary policy meeting held on 24 May, the National Bank of Angola (Banco Nacional de Angola, BNA) left the main interest rate unchanged at 18.00%.
May 18, 2018
The average price of Angola’s Cabinda crude oil jumped from USD 66.6 per barrel (pb) in March to USD 72.0 pb in April.
May 16, 2018
Consumer prices in the province of Luanda rose 1.16% in April in monthly terms, decelerating slightly from the previous month’s 1.38% month-on-month increase.