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Central bank decides to let currency float

    NAIROBI

    The Angolan central bank has decided to devalue the country's currency against the dollar to bring it line with the black market rate, the state owned radio station has reported.

    It quoted a central bank statement which said: "The National Bank of Angola is not going to fix the official rate anymore or the cost credit or the price of foreign exchange." It added that the move which the World Bank and the International Monetary Fund have been pushing for, would be positive for the economy. "It is going to be extremely positive because
    the banks are going to capture the market, national and foreign that until now was on the street," it said.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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