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The Angolan kwanza depreciated against the euro on Wednesday and has now fallen more than 34% since the Angolan currency started floating in January, with the exchange rates decided by currency auctions to banks in the country.
Today, the average exchange rate against the euro is 281.5 kwanzas, while on 1 January it was 185.40 kwanzas, which represents a depreciation of 34.1% in five months.
The US dollar today is worth an average of 239 kwanzas, while at the beginning of the year it was 165.92 kwanzas, a depreciation in this case of almost 31%.
The current exchange rate was formed after the last foreign exchange auction on Wednesday when €25 million was sold to commercial banks.
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