Angolan kwanza

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Angolan kwanza
ISO 4217 Code AOA
User(s) Angola
Inflation 13.2%
Source The World Factbook, 2006 est.
Subunit
1/100 cêntimo
Symbol Kz
Coins
Freq. used 1, 2, 5 kwanzas
Rarely used 10, 50 cêntimos
Banknotes 10, 50, 100, 200, 500, 1,000, 2,000 kwanzas
Central bank Banco Nacional de Angola
Website www.bna.ao
This article is about the currency kwanza. For the river in Angola, see Kwanza River. For the African-American holiday, see Kwanzaa.

The kwanza (ISO currency code: AOA, abbreviation also: Kz) is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.

Contents


Start Date Finish Date Currency Unit Sub Unit Notes
8 January 1977 24 September 1990 Kwanza (AOK) 100 lwei 1 kwanza = 1 Angolan escudo
25 September 1990 30 June 1995 Novo kwanza (AON) none 1 novo kwanza = 1 kwanza
1 July 1995 30 November 1999 Kwanza reajustado (AOR) none 1 kwanza reajustado = 1000 novos kwanzas
1 December 1999 present Kwanza (AOA) 100 cêntimos 1 kwanza = 1,000,000 kwanzas reajustados

[edit] First Kwanza, 1977-1990

50 lwei 1979
Coat of arms Value

The kwanza was introduced following Angolan independence. It replaced the escudo at par and was subdivided into 100 lwei. Its ISO 4217 code was AOK.

[edit] Coins

The first coins issued for the kwanza did not bear any date, although all bore the date of independence, 11 November 1975. They were in denominations of 10, 20, 50 lwei, 1, 2, 5 and 10 kwanzas. 20 kwanzas coins were added in 1978. The last date to appear on coins was 1979.

[edit] Banknotes

In 1977, banknotes (dated 1976) were introduced by the Banco Nacional in denominations of 20, 50, 100, 500 and 1000 kwanzas. The 20 kwanzas note was replaced by a coin in 1978.

[edit] Novo kwanza, 1990-1995

In 1990, the novo kwanza was introduced, with the ISO 4217 code AON. Although it replaced the kwanza at par, Angolans could only exchange 5% of all old notes for new ones; they had to exchange the rest for government securities. This kwanza suffered from high inflation.

[edit] Banknotes

This currency was only issued in note form. The first banknotes issued in 1990 were overprints on earlier notes in denominations of 50 (report not confirmed), 500, 1000 and 5000 novos kwanzas (5000 novos kwanzas overprinted on 100 kwanzas). In 1991, the word novo was dropped on the issue of regular banknotes for 100, 500, 1000, 5000, 10,000, 50,000, 100,000 and 500,000 kwanzas.

[edit] Kwanza reajustado, 1995-1999

In 1995, the kwanza reajustado replaced the previous kwanza at a rate of 1000 to 1. It had the ISO 4217 code AOR. The inflation continued and no coins were issued.

[edit] Banknotes

Despite the exchange rate, such was the low value of the old kwanza that the smallest denomination of banknote issued was 1000 kwanza reajustado. Other notes were 5000, 10,000, 50,000, 100,000, 500,000, 1,000,000 and 5,000,000 kwanzas.

[edit] Second kwanza, 1999-

In 1999, a second currency was introduced simply called the kwanza. Unlike the first kwanza, this currency is subdivided into 100 cêntimos. The introduction of this currency saw the reintroduction of coins. Although it suffered early on from high inflation, its value has now stabilized.

[edit] Coins

Coins
Value Technical parameters Description Date of first minting
Diameter Mass Composition Edge Obverse Reverse
10 cêntimos 15 mm 1.5 g Copper plated steel Reeded State title, Coat of arms, year Value 1999
50 cêntimos 18 mm 3 g
1 kwanza 21 mm 4.5 g Cupronickel Reeded State title, Coat of arms, year Value 1999
2 kwanzas 22 mm 5 g
5 kwanzas 26 mm 7 g
For table standards, see the coin specification table.

Coins in 10 and 50 cêntimos denominations aren't used any more, as the values are minuscule.

[edit] Banknotes

Banknotes
Image Value Main Colour Description Date of
Obverse Reverse Obverse Reverse Watermark printing issue
[1] [2] 1 kwanza Pink Agostinho Neto, José Eduardo dos Santos Women picking cotton  ? October 1999 1 December 1999
[3] [4] 5 kwanzas Light blue Mountain pass
[5] [6] 10 kwanzas Red 2 antelopes
[7] [8] 50 kwanzas Lime Off-shore oil rig
[9] [10] 100 kwanzas Yellow-brown Banco Nacional de Angola
[11] [12] 200 kwanzas Lilac Aerial view of Luanda November 2003 19 July 2004
[13] [14] 500 kwanzas Orange Cotton
[15] [16] 1000 kwanza Rose Coffee plantation
[17] [18] 2000 kwanza Lime Sea shore 2006
For table standards, see the banknote specification table.

The banknotes are quite similar in design, with only different colours separating them.

[edit] Historical exchange rates

This table shows the historical value of one U.S. dollar in Angola kwanzas:

Date Currency code and Name Rate
1994 AON novo kwanza 34,200 to 850,000
Jan to Jun 1995 AON novo kwanza 1,000,000 to 2,100,000
1 July 1995 1000 AON -> 1 AOR (kwanza reajustado)
Jul to Dec 1995 AOR kwanza reajustado 2,100 to 13,000
1996 AOR kwanza reajustado 13,000 to 210,000 to 194,000
1997 AOR kwanza reajustado 194,000 to 253,300
1998 AOR kwanza reajustado 253,300 to 594,000
1999 AOR kwanza reajustado 594,000 to 5,400,000
1 December 1999 1 million AOR -> 1 AOA (kwanza)
2000 AOA kwanza 5.4 to 16.3
2001 AOA kwanza 16.3 to 31.12
2002 AOA kwanza 31.12 to 57.47
2003 AOA kwanza 57.47 to 86.88 to 78.61
2004 AOA kwanza 78.61 to 85.90
2005 AOA kwanza 85.90 to 88.97 to 80.58
2006 AOA kwanza 80.58 to -

Angola's currencies were the Least valued currency unit several times in the 1990s.

Current AOA exchange rates
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[edit] See also

[edit] External links

Kwanza
Preceded by:
Angolan escudo
Reason: independence (in 1975)
Ratio: at par		 Currency of Angola
1977 – 1990		 Succeeded by:
Novo kwanza
Reason: government seized part of the money supply
Ratio: at par (see article for more detail)
Novo kwanza
Preceded by:
Kwanza
Reason: government seized part of the money supply
Ratio: at par (see article for more detail)		 Currency of Angola
1990 – 1995		 Succeeded by:
Kwanza reajustado
Reason: inflation
Ratio: 1 kwanza reajustado = 1000 novos kwanzas
Kwanza reajustado
Preceded by:
Novo kwanza
Reason: inflation
Ratio: 1 kwanza reajustado = 1000 novos kwanzas		 Currency of Angola
1995 – 1999		 Succeeded by:
Kwanza
Reason: inflation
Ratio: 1 kwanza = 1,000,000 kwanzas reajustados
Kwanza
Preceded by:
Kwanza reajustado
Reason: inflation
Ratio: 1 kwanza = 1,000,000 kwanzas reajustados		 Currency of Angola
1999 –		 Succeeded by:
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