The Traderszone Network

Published in TZ Latest News 26 November, 2015 by The TZ Newswire Staff

Bank of America to halt dollar supplies to Angola: sources

Bank of America (BAC.N) will stop supplying U.S. dollars to Angola at the end of this month, two foreign exchange sources said on Thursday, a move that could pile pressure on the oil exporter’s ailing kwanza (AOA=) currency. South Africa’s Rand Merchant Bank (RMMMu.J) (RMB) said on Thursday that a U.S. bank had decided to discontinue providing it with dollars for onward supply to Angola which meant it would stop selling Angolan banks the greenback from Nov. 30. RMB, a division of FirstRand Bank Ltd [FSRJHB.UL], did not name the U.S.

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