Angop - Agência de Notícias Angola Press

Central Bank auctions Usd250 mln

Tue, 03 Dec 2019 15:59 - Economy

Luanda - At least USD 250 million is the amount of foreign currency the Central Bank of Angola (BNA) will make available for sale at auction price aimed at stabilisation of exchange rate.

  • Dollar bank notes

The financial institution also announced that it will release 50 million dollar on daily basis.

The BNA said that at the end of each session it will divulge the amount auctioned, according to its communiqué available on its website.

The measure is also intended to bring the exchange rate of the formal and that of the informal market closer together.

The Central Bank monetary policy team (CPM) held an ordinary session on Friday to discuss the main economic indicators, with stress to the price behaviour and foreign exchange market developments.

It noted that the process of economic disinflation continues taking its course, despite the implementation of the Value Added Tax (VAT) and the liberalisation of the exchange rate in October 2019.

The National Consumer Price Index (IPCN) showed a monthly variation of 1.38 percent, according to the report of National Institute of Statistics (INE) released on October.

The figure is slightly below that of the previous month (1.45%).