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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Angola foreign reserves drop to $12.2 bln in May

Posted on 25 June 2009

From Reuters: Angola’s exchange reserves dropped to $12.2 billion in May from $12.4 billion in April, the central bank announced on Wednesday, but the recent rise in oil prices has helped slow down the rate of the decline.

Analysts said they expected Banco Nacional de Angola’s (BNA) foreign exchange reserves to increase in coming months if oil prices remain at around $70 per barrel. Angola rivals Nigeria as Africa’s biggest oil producer…….Full Article: Source


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