A series of other measures will follow over the next year, which should also provide a significant boost to the local currency, the kwanza. |
The new kwanza, the national currency, is subject to high inflation rates. |
The central bank artificially maintained the kwanza pegged to the dollar, which led to foreign currency reserves being heavily drawn upon to support the currency. |
A tank of petrol is 3,000 kwanza, a tot of whisky 700 kwanza, a minute's phone call across town several dollars. |
The government has begun a second phase of the operation, concentrating on the two Lunda provinces, north and south, Malanje and Kwanza South. |
In contrast, the Angolan kwanza and the Nigerian naira have depreciated against the US dollar over the period which may have protected their competitiveness. |