OPEC Member Angola Halves Currency Gap With Black Market
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A foreign-currency shortage in Angola, an OPEC member, is easing as oil prices approach $80 a barrel and the central bank weakens the kwanza. The gap between the official value and the black-market rate on the streets of the capital, Luanda, has almost halved to 33 percent from 61 percent at the start of the year. Businesses’ ability to access dollars is “gradually normalizing,” Jose Massano, the governor of the Banco Nacional de Angola, said in an emailed response to questions last week.