The oil boom has added fuel to a rally for Angola’s kwanza that’s made it the world’s best-performing currency against the dollar.
The currency of Africa’s second-biggest crude producer has strengthened 20% this year, buoyed by surging oil prices, several credit-rating upgrades and the likelihood the central bank will continue to raise interest rates. The worst-performing currency is the Russian ruble, down 37% this year amid sanctions against Russia after its invasion of Ukraine.
