Angola to hold forex auction Tuesday as it ends dollar peg: sources

U.S. Dollar banknotes are seen in a box at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File Photo

JOHANNESBURG (Reuters) – Angola will hold a foreign exchange auction on Tuesday, the first since the central bank announced it would shift from a currency peg to a trading band, two banking sources said on Monday.

A forex auction was supposed to take place on Friday but it was delayed until Tuesday, the two sources told Reuters, adding that they expected the kwanza to depreciate between 20 and 30 percent under the new rules.

Reporting by Joe Brock; Editing by Robin Pomeroy

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