Angolan kwanza
| ISO 4217 | |
|---|---|
| Code | AOA (numeric: 973) |
| Subunit | 0.01 |
| Unit | |
| Symbol | Kz |
| Denominations | |
| Subunit | |
| 1/100 | cêntimo |
| Banknotes | 5, 10, 50, 100, 200, 500, 1,000, 2,000, 5,000 kwanzas |
| Coins | |
| Freq. used | 1, 2, 5, 10, 20, 50, 100 kwanzas |
| Rarely used | 10, 50 cêntimos |
| Demographics | |
| User(s) |  Angola |
| Issuance | |
| Central bank | Banco Nacional de Angola |
| Website | www |
| Valuation | |
| Inflation | 35% |
| Source | The World Factbook, 2009 est. |
The kwanza (sign: Kz; ISO 4217 code: AOA) is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.
The currency derives its name from the Kwanza River (Cuanza, Coanza, Quanza).[1]
Overview
| Start date | Finish date | ISO 4217 | Currency unit | Subunit | Notes |
|---|---|---|---|---|---|
| 8 Jan 1977 | 24 Sep 1990 | AOK |
Kwanza | 100 lwei | 1 kwanza = 1 Angolan escudo |
| 25 Sep 1990 | 30 Jun 1995 | AON |
Novo kwanza | none | 1 novo kwanza = 1 kwanza |
| 1 Jul 1995 | 30 Nov 1999 | AOR |
Kwanza reajustado | none | 1 kwanza reajustado = 1000 novos kwanzas |
| 1 Dec 1999 | present | AOA |
Kwanza | 100 cêntimos | 1 kwanza = 1,000,000 kwanzas reajustados |
First Kwanza, AOK, 1977-1990
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 currency did not bear any date of issue, although all bore the date of independence, "11 de Novembro de 1975". They were in denominations of 50 lwei, 1, 2, 5 and 10 kwanzas. 20 kwanza coins were added in 1978. The last date to appear on these coins was 1979.
Banknotes
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.[2] The 20 kwanza note was replaced by a coin in 1978.
Novo kwanza, AON, 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, AOR, 1995–1999
In 1995, the kwanza reajustado (plural kwanzas reajustados) 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
Despite the exchange rate, such was the low value of the old kwanza that the smallest denomination of banknote issued was 1000 kwanzas reajustados. 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–
In 1999, a second currency was introduced simply called the kwanza. It replaced the kwanza reajustado at a rate of 1,000,000 to 1. 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
First series
| 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 | Plain | 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 cêntimo denominations are no longer used, as the values are minuscule.
Second series
| Coins | |||||||
|---|---|---|---|---|---|---|---|
| Value | Technical parameters | Description | Date of first minting | ||||
| Diameter | Mass | Composition | Edge | Obverse | Reverse | ||
| 50 cêntimos | 20.6 mm | 3.8 g | Copper-nickel-plated steel | Plain | State title, Coat of arms, year | Value | 2012 |
| 1 kwanza | 22.1 mm | 5.0 g | Brass-plated steel | Plain | |||
| 5 kwanzas | 25 mm | 7.0 g | Bi-metallic nickel-brass centre in copper-nickel ring | Reeded | |||
| 10 kwanzas | 27 mm | 8.0 g | Bi-metallic copper-nickel centre in nickel-brass ring | Reeded | |||
| 20 kwanzas | 28 mm | 11.64 g | Bi-metallic steel centre in brass ring | Interrupted reeded | Rainha Njinga | 2014 | |
| 50 kwanzas | 26 mm | 7.6 g | Copper-nickel-clad steel | Partially reeded | 40 years of independence | 2015 | |
| 100 kwanzas | 26.5 mm | 8.6 g | Brass-clad steel | Partially reeded | |||
| For table standards, see the coin specification table. | |||||||
During 2012-14, new coins were introduced in denominations of 50 cêntimos, 1, 5, 10 and 20 kwanzas.
Banknotes
| Banknotes of the Angolan Kwanza (1999 series) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Image | Value | Main Colour | Description | Date of | ||||
| Obverse | Reverse | Obverse | Reverse | Watermark | printing | issue | ||
| 1 kwanza | Pink | Agostinho Neto and José Eduardo dos Santos | Women picking cotton | Sculpture | October 1999 | 1 December 1999 | ||
| 5 kwanzas | Light green | Serra da Leba | ||||||
| 10 kwanzas | Red | 2 antelopes | ||||||
| 50 kwanzas | Lime | Off-shore oil rig | ||||||
| 100 kwanzas | Yellow-brown | Banco Nacional de Angola | ||||||
| 200 kwanzas | Lilac | Aerial view of Luanda | November 2003 | 19 July 2004 | ||||
| 500 kwanzas | Orange | Cotton | ||||||
| 1000 kwanzas | Rose | Coffee plantation | ||||||
| 2000 kwanzas | Lime | Sea shore | 2006 | |||||
The banknotes are quite similar in design, with only different colours separating them.
The Banco Nacional 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.[3][4]In 2017, the Banco Nacional de Angola issued 5 and 10 kwanzas banknotes as part of the family of banknotes first introduced in 2012.[5][6]
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 |
| January to June 1995 | AON novo kwanza | 1,000,000 to 2,100,000 |
| 1 July 1995 | 1000 AON → 1 AOR (kwanza reajustado) | |
| July to December 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 89.01 to 80.57 |
| 2007 | AOA kwanza | 80.57 to 74.78 to 75.16 |
| 2008 | AOA kwanza | 75.16 to - |
| 2017 | AOA kwanza | 165.09 to - |
| 2018 | AOA kwanza | 238.801 to - |
On several occasions during the 1990s, Angola's currency was the least valued currency unit in the world.[citation needed]
| Current AOA exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD INR CNY KRW |
| From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD INR CNY KRW |
| From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD INR CNY KRW |
| From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD INR CNY KRW |
Production
The Angolan kwanza banknotes have been produced by De La Rue in England.
See also
References
- ^ Theroux, Paul (30 May 2013). "The Last Train to Zona Verde: Overland from Cape Town to Angola". Penguin Books Limited – via Google Books.
- ^ Linzmayer, Owen (2012). "Angola". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
- ^ Angola new 50-, 100-, 200-, and 500-kwanza notes confirmed BanknoteNews.com. April 11, 2013. Retrieved on 2013-04-11.
- ^ Angola new 1,000-, 2,000-, and 5,000-kwanza notes confirmed BanknoteNews.com. June 24, 2013. Retrieved on 2013-06-27.
- ^ Angola new 5-kwanza note (B550) confirmed Banknote News (banknotenews.com). January 19, 2017. Retrieved on 2017-01-19.
- ^ Angola new 10-kwanza note (B551) confirmed Banknote News (banknotenews.com). January 19, 2017. Retrieved on 2017-01-19.
External links
- Coin Types from Angola Lists, pictures, and values of Angola coin types
- Collection of coin - Angola
- New Angola coin family for 2013
| 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) |
| 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 |
| 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 |
| Preceded by: Kwanza reajustado Reason: inflation Ratio: 1 kwanza = 1,000,000 kwanzas reajustados |
Currency of Angola 1999 – |
Succeeded by: Current |
