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 centimo

Symbol Kz

Coins

Freq. used 1, 2, 5 kwanzas

Rarely used 10, 50 centimos

Banknotes 1, 5, 10, 50, 100, 200, 500, 1000, 2000 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.

1 History
2 Historical exchange rates
3 Reference
4 External links

[edit] History

Four different currencies using the name kwanza have circulated since 1977.

Start Date	Finish Date	Currency Unit	Sub Unit	Notes
8 January 1977	24 September 1990	Kwanza	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 centimos	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. The first banknotes were dated 1976 but not issued until 1977. Coins were issued in denominations ranging from 50 lwei to 100 kwanzas. Interestingly, some of the coins were issued witout dates of issue, although all bore the date of independence, 11 November 1973. The last date to appear on coins was 1979.

[edit] Novo Kwanza, 1990-1995

The first banknotes were overprints on earlier notes and the denomination was given as novo kwanza. Later banknotes dropped the word novo. 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] Kwanza Reajustado, 1995-1999

Although the exchange rate to the previous kwanza was 1000 to one, such was the low value of the old kwanza that the smallest denomination of banknote issued was 1000 kwanza reajustado. The inflation continued with denominations reaching 5 million kwanza reajustado. No coins were issued.

[edit] Second Kwanza, 1999-

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

Coins
Value	Technical parameters			Description			Date of first minting
Value	Diameter	Mass	Composition	Edge	Obverse	Reverse	Date of first minting
10 centimos	15 mm	1.5 g	Copper plated steel	Reeeded	State title, Coat of arms, year	Value	1999
50 centimos	18 mm	3 g	Copper plated steel	Reeeded	State title, Coat of arms, year	Value	1999
1 kwanza	21 mm	4.5 g	Cupronickel	Reeeded	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.

[edit] Banknotes

Banknotes are quite similar with only different colours separating them. Banknotes have been issued in denominations of:

Banknotes
Image		Value	Main Colour	Description			Date of
Obverse	Reverse	Value	Main Colour	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.

[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 reajusto	2,100 to 13,000
1996	AOR kwanza reajusto	13,000 to 210,000 to 194,000
1997	AOR kwanza reajusto	194,000 to 253,300
1998	AOR kwanza reajusto	253,300 to 594,000
1999	AOR kwanza reajusto	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 for several times in the 1990s.

Current AOA exchange rates

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[edit] Reference

Tables of modern monetary history: Angola

[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: Current

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North	Algerian dinar · Euro (Plazas de soberanía) · Egyptian pound · Libyan dinar · Mauritanian ouguiya · Moroccan dirham · Sudanese pound · Tunisian dinar
Central	Angolan kwanza · Burundian franc · Central African CFA franc (Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon) · Congolese franc · Rwandan franc
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East	Comorian franc · Djiboutian franc · Eritrean nakfa · Ethiopian birr · Kenyan shilling · Seychellois rupee · Somali shilling · Somaliland shilling (unrecognized) · Tanzanian shilling · Ugandan shilling
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Categories: Currencies of Africa | Circulating currencies | Economy of Angola

Angolan kwanza

From Wikipedia, the free encyclopedia

Contents

[edit] History

[edit] First Kwanza, 1977-1990

[edit] Novo Kwanza, 1990-1995

[edit] Kwanza Reajustado, 1995-1999

[edit] Second Kwanza, 1999-

[edit] Coins

[edit] Banknotes

[edit] Historical exchange rates

[edit] Reference

[edit] External links

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