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Lusa - Business News - Angola: Dollar to be worth 405,25 kwanzas by end of year - Standard Bank

Johannesburg, Aug. 19, 2019 (Lusa) - The South African economic studies department of Banco Standard forecasts that the dollar will increase in value against the kwanza, reaching 405.25 kwanzas at the end of the year, reflecting an increase of 3% per month.
"Oil prices have fallen from the psychological barrier of $60 for the first time in more than six months, and if they continue this way for a long period it could amplify the pressures of foreign currency liquidity in Angola and the balance of payments, leading the central bank to tolerate a sharper devaluation of the kwanza," the analysts said.
In the August report on African financial markets, sent to clients and to which Lusa had access, analysts from the research department of this South African bank anticipated that the National Bank of Angola can keep the benchmark interest rate at 15.5% for some time.
"Although this maintenance of the figures seems to be in line with the conviction that inflation should close the year close to the 15% target, we see inflation fall very slowly," analysts said, noting that inflation had an average monthly growth of 1.1% in the first half of this year, which is half the increase over the same period last year.
"This allowed inflation to have slowed to 17.3% in June in Luanda compared to the same period of 2018 and 16.9% at a national level, lower than the 20.2% and 19.5% respectively recorded during the same period of 2018," analysts said.

Agency : LUSA

Date : 2019-08-20 09:25:38


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