Angolan Kwanza

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Angolan Kwanza

The currency of Angola. It was introduced in 1999. While it initially suffered from high inflation, it dropped to a reasonable rate. Due to inflation in Angola, the current kwanza is the fourth to be issued since 1977.

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London: Fitch Ratings said the depreciation of the Angolan kwanza should not trigger a significant immediate deterioration of capital adequacy in the country's banking sector assuming banks' foreign-exchange positions are largely unchanged from end-November 2017, when the sector had a net long open foreign-currency (FC) position.

Depreciation of Angolan kwanza should not trigger a deterioration of capital adequacy

The head of the central bank came out with the statement even as the rush to buy dollars continued on fears that the economic crisis may cause the Angolan kwanza (AOA) to drop in value.

Central Bank of Angola has no plan to devalue currency

London: The depreciation of the Angolan kwanza should not trigger a significant immediate deterioration of capital adequacy in the country's banking sector assuming banks' foreign-exchange positions are largely unchanged from end-November 2017, when the sector had a net long open foreign-currency (FC) position, says Fitch Ratings.