Angolan kwanza

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

The kwanza (sign: Kw; code: AOA) is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.

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.

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.

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.

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.

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 from the issue of regular banknotes for 100, 500, 1000, 5000, 10,000, 50,000, 100,000 and 500,000 kwanzas.

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.

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.

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.

Coins

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

Banknotes

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

Historical exchange rates

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

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

See also

• Economy of Angola

External links

• Collection of coin - Angola

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