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You are here: HomePortuguese Speaking Countries News[2020-03-12] Angola’s commercial banks purchase US$279 million from the oil sector in February

[2020-03-12] Angola’s commercial banks purchase US$279 million from the oil sector in February

Source: Macauhub

Companies in the oil and gas sector sold US$279 million to the commercial banks operating in Angola in February, at a weighted average rate of 504.604 kwanzas per dollar, the Angolan central bank said.

Over the month there were 90 transactions for the purchase and sale of dollars, at a minimum exchange rate of 488.010 kwanzas per dollar and the maximum of 510.649 kwanzas per dollar, according to the data published on the website of the National Bank of Angola.

The amount sold in February by the companies of the oil and gas sector compares with US$280 million sold to banks by oil sector companies in January, when the weighted average exchange rate stood at 500.909 kwanzas per dollar.

The statement from the central bank also noted total transactions of US$22 million on the interbank market, in nine separate transactions at an exchange rate average of 506.994 kwanzas per dollar.

These transactions are carried out under Notice 13/19, of 29 November, in force since 2 January 2020 and authorising commercial banks to buy foreign currency from companies in the oil and gas sector, without the intermediation of the central bank.