January 4, 2018 / 7:02 AM / in 3 hours

Angola to abandon kwanza currency peg against dollar: central bank governor

Reuters Staff

1 Min Read

LUANDA (Reuters) - Angola plans to abandon the kwanza currency peg against the U.S dollar, central bank governor José de Massano Junior said on Wednesday.

U.S. Dollar banknotes are seen in a box at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File Photo

The move will let the local unit - fixed at 1.66 per dollar - to fall sharply to match its value on the streets.

Reporting by Herculano Coroado; Writing by Tiisetso Motsoeneng

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