Angola appoints Jose Pedro de Morais as new central bank governor, replacing Jose de Lima Massano

Jose Pedro de Morais, new Governor of the Central Bank of Angola (CBA)

Angola‘s President Jose Eduardo dos Santos has replaced central bank Governor Jose de Lima Massano with Jose Pedro de Morais, the official news agency Angop said on its website.

The agency did not give a reason for the replacement of Massano, one of Angola’s most respected bankers, who was appointed in October 2010 for an unspecified period.

Angola’s kwanza has weakened alongside the currencies of other oil-exporting countries, hitting an all-time low of 103.20 against the dollar earlier this month, according to Thomson Reuters data.

Read more: Angola appoints new central bank governor | Reuters.