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RMB to halt dollar supplies to Angola

Luanda - Rand Merchant Bank (RMB) said on Thursday it will stop supplying Angolan banks with US dollars from November 30, a move that could pile pressure on the oil exporter's ailing kwanza currency.

The decision to terminate dollar sales comes after a US bank said it would discontinue supplying RMB with dollars for onward distribution to Angola, the division of FirstRand Bank said in a statement.

It did not name the US bank or say why it no longer wanted to trade dollars with Angola.

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