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Angola: central bank to release €300m to market on Wednesday
7:00 CAT | 14 Feb 2024
File photo: Lusa
The National Bank of Angola (BNA) has announced that the National Treasury will make $300 million(€278 million) available to commercial banks on Wednesday.
According to a note from the BNA, the amount will be available throughout the week, until it runs out, and the sale of foreign currency will be carried out through the Bloomberg Platform, in daily sessions.
In order to “mitigate possible operational constraints in the settlement of operations”, commercial banks will be able to use the National Bank of Angola’s Liquidity Provision Facility (an operation through which commercial operators turn to the central bank to obtain credit to finance their activities) ‘intraday’ (trading that takes place during a single day).
Banks may also make use of the seven-day Liquidity Provision Facility, provided they have Open Market Operations with the BNA maturing within that period.
Open Market Operations allow the central bank to buy or sell public debt securities to commercial banks.
Last week, the governor of the BNA said that the availability of foreign currency increased in January from $600 million to $836 million, but estimated that the supply would remain at around $600 million in the coming months.
Source: Lusa
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