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Angola Sells $150 Million in FX for Imports as Kwanza Stabilizes - BLOOMBERG
(Bloomberg) -- Angola’s central bank is selling $150 million of foreign currency to commercial banks for rice imports and other private transactions.
A total of $88 million in foreign currency is expected to cover rice imports, while $60 million is aimed at assisting individuals with pending settlements with commercial banks, the central bank said in a statement on its website.
The sales, which are being carried out between Dec. 9 and 10, add to ones in October when the central bank sold $248 million to lenders.
They have helped bolster the kwanza to 924 against the dollar from 961 on Oct. 1, the lowest level since 1999.
