Angolan kwanza

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Angolan kwanza
ISO 4217 codeAOA
Central bankBanco Nacional de Angola
 Websitewww.bna.ao
User(s) Angola
Inflation13.1%
 SourceThe World Factbook, 2009 est.
Subunit
 1/100cêntimo
SymbolKz
Coins
 Freq. used1, 2, 5, 10 kwanzas
 Rarely used10, 50 cêntimos
Banknotes10, 50, 100, 200, 500, 1,000, 2,000, 5,000 kwanzas
 
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This article is about the currency kwanza. For the river in Angola, see Cuanza River. For the American holiday, see Kwanzaa.
Angolan kwanza
ISO 4217 codeAOA
Central bankBanco Nacional de Angola
 Websitewww.bna.ao
User(s) Angola
Inflation13.1%
 SourceThe World Factbook, 2009 est.
Subunit
 1/100cêntimo
SymbolKz
Coins
 Freq. used1, 2, 5, 10 kwanzas
 Rarely used10, 50 cêntimos
Banknotes10, 50, 100, 200, 500, 1,000, 2,000, 5,000 kwanzas

The kwanza (sign: Kz; ISO 4217 code: AOA) is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.

Overview[edit]

Start dateFinish dateISO 4217Currency unitSubunitNotes
8 Jan 197724 Sep 1990AOKKwanza100 lwei1 kwanza = 1 Angolan escudo
25 Sep 199030 Jun 1995AONNovo kwanzanone1 novo kwanza = 1 kwanza
1 Jul 199530 Nov 1999AORKwanza reajustadonone1 kwanza reajustado = 1000 novos kwanzas
1 Dec 1999presentAOAKwanza100 cêntimos1 kwanza = 1,000,000 kwanzas reajustados

First Kwanza, AOK, 1975-1990[edit]

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[edit]

The first coins issued for the kwanza did not bear any date, although all bore the date of independence, 27 December 1975. They were in denominations of 10, 20, 50 lwei, 1, 2, 5 and 10 kwanzas. 20 kwanza coins were added in 1978. The last date to appear on coins was 1979.

Banknotes[edit]

On 8 January 1977, banknotes dated 11 DE NOVEMBRO DE 1975 were introduced by the Banco Nacional de Angola (National Bank of Angola) in denominations of 20, 50, 100, 500, and 1000 kwanzas.[1] The 20 kwanza note was replaced by a coin in 1978.

Novo kwanza, AON, 1990-1995[edit]

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[edit]

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, AOR, 1995-1999[edit]

In 1995, the kwanza reajustado replaced the previous kwanza at a rate of 1,000 to 1. It had the ISO 4217 code AOR. The inflation continued and no coins were issued.

Banknotes[edit]

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 5,000, 10,000, 50,000, 100,000, 500,000, 1,000,000 and 5,000,000 kwanzas.

Second kwanza, AOA, 1999-[edit]

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[edit]

Coins
ValueTechnical parametersDescriptionDate of first minting
DiameterMassCompositionEdgeObverseReverse
10 cêntimos15 mm1.5 gCopper plated steelReededState title, Coat of arms, yearValue1999
50 cêntimos18 mm3 g
1 kwanza21 mm4.5 gCupronickelReededState title, Coat of arms, yearValue1999
2 kwanzas22 mm5 g
5 kwanzas26 mm7 g
For table standards, see the coin specification table.

Coins in 10 and 50 cêntimo denominations are no longer used, as the values are minuscule.

Banknotes[edit]

Banknotes of the Angolan Kwanza (1999 series)
ImageValueMain ColourDescriptionDate of
ObverseReverseObverseReverseWatermarkprintingissue
[1][2]1 kwanzaPinkAgostinho Neto, José Eduardo dos SantosWomen picking cottonSculptureOctober 19991 December 1999
[3][4]5 kwanzasLight greenSerra da Leba
[5][6]10 kwanzasRed2 antelopes
[7][8]50 kwanzasLimeOff-shore oil rig
[9][10]100 kwanzasYellow-brownBanco Nacional de Angola
[11][12]200 kwanzasLilacAerial view of LuandaNovember 200319 July 2004
[13][14]500 kwanzasOrangeCotton
[15][16]1000 kwanzasRoseCoffee plantation
[17][18]2000 kwanzasLimeSea shore2006

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

The Banco National de Angola issued a new series of kwanza banknotes on March 22, 2013 in denominations of 50, 100, 200 and 500 kwanzas. The other denominations (1000, 2000 and 5000 kwanzas) were issued on May 31, 2013.[2][3]

Historical exchange rates[edit]

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

DateCurrency code and NameRate
1994AON novo kwanza34,200 to 850,000
January to June 1995AON novo kwanza1,000,000 to 2,100,000
1 July 19951000 AON -> 1 AOR (kwanza reajustado)
July to December 1995AOR kwanza reajustado2,100 to 13,000
1996AOR kwanza reajustado13,000 to 210,000 to 194,000
1997AOR kwanza reajustado194,000 to 253,300
1998AOR kwanza reajustado253,300 to 594,000
1999AOR kwanza reajustado594,000 to 5,400,000
1 December 19991 million AOR -> 1 AOA (kwanza)
2000AOA kwanza5.4 to 16.3
2001AOA kwanza16.3 to 31.12
2002AOA kwanza31.12 to 57.47
2003AOA kwanza57.47 to 86.88 to 78.61
2004AOA kwanza78.61 to 85.90
2005AOA kwanza85.90 to 88.97 to 80.58
2006AOA kwanza80.58 to 89.01 to 80.57
2007AOA kwanza80.57 to 74.78 to 75.16
2008AOA kwanza75.16 to -

For several times in the 1990s, Angola's currency was the least valued currency unit in the world.

Current AOA exchange rates
From Google Finance:AUD CAD CHF EUR GBP HKD JPY USD INR CNY KRW
From Yahoo! Finance:AUD CAD CHF EUR GBP HKD JPY USD INR CNY KRW
From XE.com:AUD CAD CHF EUR GBP HKD JPY USD INR CNY KRW
From OANDA.com:AUD CAD CHF EUR GBP HKD JPY USD INR CNY KRW
From fxtop.com:AUD CAD CHF EUR GBP HKD JPY USD INR CNY KRW

Production[edit]

The Angolan kwanza has been produced by De la Rue in England.

See also[edit]

References[edit]

  1. ^ Linzmayer, Owen (2012). "Angola". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. 
  2. ^ Angola new 50-, 100-, 200-, and 500-kwanza notes confirmed BanknoteNews.com. April 11, 2013. Retrieved on 2013-04-11.
  3. ^ Angola new 1,000-, 2,000-, and 5,000-kwanza notes confirmed BanknoteNews.com. June 24, 2013. Retrieved on 2013-06-27.

External links[edit]

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:
Current