Angola’s Kwanza Plunges to Record Low on Black Market: Chart
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The Angolan kwanza hit 500 per dollar on the parallel market for the first time on Thursday, according to kinguilahoje.com, a local website. That’s about 31% weaker than the official rate, which is also at a record low. The local currency is being driven down by a lack of foreign exchange, which contributes to fuel shortages in Africa’s second largest oil producer.