Angola says no devaluation in sight

The Central Bank of Angola is not planning to devalue the kwanza and will resist speculative attempts to weaken the national currency, said Ricardo Viegas de Abreu, a deputy governor of the central bank on Tuesday.

Angola is Africa's second biggest oil producer and relies on oil for 90% of its revenues and was affected by the global plunge in oil prices. The decline in oil revenue had sparked a kwanza sell-off on fears of devaluation. However, Abreu moved to soothe investor concern saying the

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