Angola’s Foreign Reserves Drop to $23.27 Billion in November
Angola’s foreign exchange reserves dropped to $23.27 billion in November, a preliminary document published today on Angola’s central bank website showed.
Reserves declined from $23.36 billion in October, according to the Luanda-base Banco Nacional de Angola. Reserves jumped 34 percent from the end of 2010, BNA said.
Oil exports from Angola, Africa’s second biggest oil producer after Nigeria, account for more than 90 percent of the country’s foreign exchange earnings.
Central bank Governor Jose de Lima Massano said on Dec. 20 reserves stood at $23.1 billion at the end of November.
To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net
To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net
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