Dollar Squeeze Spells More Pain for World's Worst Currency
Two thousand denomination kwanza currency banknotes in an office in Luanda.
Photographer: Simon Dawson/Bloomberg
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The world’s worst-performing currency in 2018 is on the slide again.
Angola devalued the kwanza in January and then kept it fairly stable in the following two months. But the central bank in Africa’s second-biggest oil producer is loosening its grip again, dropping the currency 3.7 percent against the dollar last week and 2.2 percent this week. That’s brought this year’s loss to 27 percent.