Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

11 january 2021

Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

Ilgiz Fazulzyanov is a successful and internationally recognized jewellery designer. He received his academic art education in Kazan and moved to Moscow in the 1990s where he lives and works now. His brand, Ilgiz F., is well known among true connoisseurs...

04 january 2021

Botswana Diamonds keen to mine KX36 kimberlite if found commercial

Botswana Diamonds intends to mine the KX36 kimberlite, which it recently acquired from Petra Diamonds if found commercial. The high-grade KX36 kimberlite pipe is part of the three Prospecting Licenses in the Central Kalahari Game Reserve in Botswana...

28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

21 december 2020

An opportunity to show your products and occupy your niche

Recently, GOLDNET.MARKET, the first jewellery wholesale marketplace, appeared on the Russian jewellery market. Vladimir Pilyushin, one of the founders of GOLDNET.MARKET, editor-in-chief of the ‘Russkyi Yuvelir’ (Russian Jeweller) magazine...

14 december 2020

National Bank of Angola opens forex trading platform to diamond firms

26 may 2020
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Image credit: AhmadArdity (Pixabay)



The National Bank of Angola (BNA) is set to open the foreign currency trading platform (FXGO) to diamond companies, according to local media reports.
The FXGO platform, which was contracted to Bloomberg, had since end of March been utilised by 23 banks as well as eight companies in the oil sector.
Apart from diamond companies, BNA also wants the national treasury and large companies with foreign currency purchase needs, such as air navigation companies, to access the FXGO platform.
“Once the above mentioned entities have joined the FXGO platform, the conditions will be met for the National Bank of Angola to stop conducting foreign currency sales auctions, intervening only in the foreign exchange market through said platform, buying or selling foreign currency…for the purpose of strengthening or reducing international reserves or adjusting the exchange rate,” BNA was quoted as saying by Ver Angola.
The FXGO platform allows real-time trading between foreign currency sellers and buyers, with exchange rates freely negotiated between the parties.  

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished