(Bloomberg) -- Angola, sub-Saharan Africa's second largest oil producer, boosted the value of its currency, the kwanza, by 6 percent to curb inflation, less than two weeks after it said the currency would be devalued to boost growth.
The country decided to increase the value of the currency to 75.3 per dollar, the level it was trading at by 3:04 p.m. in Luanda, from 79.7 to the U.S. currency late yesterday, analysts from Standard Bank Ltd., Africa's largest lender by assets, wrote in an e-mailed report today. Deputy Prime Minister Aguinaldo Jaime said April 26 the currency would be devalued.
Read more at Bloomberg Currencies News
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