Angolan kwanza

This article is about the currency kwanza. 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.

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 kwanza = 1 novo kwanza^{1, 2}
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

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

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

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

Banknotes
Image Front & Back		Denomination	Dominant Colour	Obverse	Reverse	Printed Date	Issued Date	Watermark
	[http://www.bna.ao/inc/mini1verso.jpg	1 kwanza	Pink	Agostinho Neto, José Eduardo dos Santos	Women picking cotton	October 1999	1 December 1999	?
	[http://www.bna.ao/inc/mini5verso.jpg	5 kwanzas	Light blue		Mountain pass
	[http://www.bna.ao/inc/mini10verso.jpg	10 kwanzas	Red		2 antelopes
	[http://www.bna.ao/inc/mini50verso.jpg	50 kwanzas	Lime		Off-shore oil rig
	[http://www.bna.ao/inc/mini100verso.jpg	100 kwanzas	Yellow-brown		Banco Nacional de Angola
	[http://www.bna.ao/inc/mini200verso.jpg	200 kwanzas	Lilac		Aerial view of Luanda	November 2003	19 July 2004
	[http://www.bna.ao/inc/mini500verso.jpg	500 kwanzas	Orange		Cotton
	[http://www.bna.ao/inc/mini1000verso.jpg	1000 kwanza	Rose		Coffee plantation
	[http://www.bna.ao/inc/mini2000verso.jpg	2000 kwanza	Lime		Sea shore		2006

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

Date	Currency code and Name	Rate
1994	AON novo kwanza	34.2 thousand to 850 thousand
Jan to Jun 1995	AON novo kwanza	1 million to 2.1 million
1 July 1995		1000 AON -> 1 AOR (kwanza reajustado)
Jul to Dec 1995	AOR kwanza reajusto	2.1 thousand to 13 thousand
1996	AOR kwanza reajusto	13 thousand to 210 thousand to 194 thousand
1997	AOR kwanza reajusto	194 thousand to 253.3 thousand
1998	AOR kwanza reajusto	253.3 thousand to 594 thousand
1999	AOR kwanza reajusto	594 thousand to 5.4 million
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.

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