Angola Foreign Exchange Dashboard
The Angolan Kwanza (AOA) is managed under a crawling peg regime following the 2019 liberalization that ended the fixed exchange rate system. The BNA manages the exchange rate through regular FX auctions and intervention to maintain orderly market conditions.
Key Rates
| Pair | Rate | Change |
|---|---|---|
| USD/AOA | 856.20 | ▲ 0.3% |
| EUR/AOA | ~930 | ▲ 0.5% |
| GBP/AOA | ~1,080 | ▲ 0.4% |
| ZAR/AOA | ~47 | ▲ 0.2% |
| CNY/AOA | ~118 | ▲ 0.3% |
FX Reserves
Angola’s gross international reserves stand at approximately $14 billion (late 2025), providing roughly 7 months of import cover. Reserves have stabilized after declining from a peak of $30 billion in 2013, supported by oil revenues above $70/bbl and IMF disbursements.
Market Structure
The BNA conducts FX auctions twice weekly, selling USD to authorized commercial banks. The auction mechanism replaced the previous fixed-rate allocation system in 2019, introducing market-based price discovery. The spread between the official and parallel market rates has narrowed to less than 5%, compared to over 150% before liberalization.
Kwanza Performance
The Kwanza has depreciated approximately 60% against the USD since the 2019 float (from ~365 to ~856), but the pace of depreciation has slowed significantly since 2023 as the BNA rebuilt reserves and tightened monetary policy. Real effective exchange rate analysis suggests the Kwanza is now closer to fair value than at any point since 2014.
Part of the Angola Intelligence Network. See also: angola2050.com | ndp2030.com