Angola

Angola’s kwanza recovered from a 25-year low against the dollar after the central bank resumed foreign currency sales to local banks. The central bank sold USD 71 mln at 935 kwanza per USD and announced plans to sell another USD 179 mln. This helped the kwanza strengthen to 923 against the USD from a low of 961 on Oct. 1, reducing its year-to-date losses to about 10%. A stronger kwanza could help temper the inflation rate, which is currently at 30.5%.