Angolan Kwanza is the currency of Angola. The sign used to denote Angolan Kwanza is KZ whereas the ISO 4217 code for the currency is AOA. Since 1977¸ four different currencies have been circulated in the country with the name¸ kwanza.
First Kwanza¸ AOK¸ 1977-1990
After the Angolan independence¸ a new currency¸ kwanza¸ was introduced after replacing the escudo at par. During that time¸ 1 kwanza was equal to 100 lwei. The ISO 4217 code for the Angolan kwanza during that time was AOK.
The coins that were introduced during the time had no date and were all dated the date of independence¸ 11 November 1975. The coins were issued in the denominations of 10¸ 20¸ 50 lwei¸ 1¸ 2¸ 5 and 10 kwanzas. 20 kwanza coins were introduced in 1978.
The Banco Nacional¸ the national bank of Angola¸ issued banknotes (dated 1976) in 1977. The notes that were issued were in denominations of 20¸ 50¸ 100¸ 500 and 1000 kwanzas. In 1978¸ the 20 kwanza note that was in circulation got replaced by a coin.
Novo kwanza¸ AON¸ 1990-1995
The novo kwanza was issued with the ISO 4217 code AON in 1990¸ and replaced the older kwanza that was in circulation. The 5% of old kwanza notes could be exchanged for new ones. The novo kwanza however was soon subjected to high inflation.
One special feature of the novo kwanza was it was issued only in banknotes¸ and not coins. The banknotes that were issued in 1991 dropped the word novo from the regular banknotes for 100¸ 500¸ 1000¸ 5000¸ 10¸000¸ 50¸000¸ 100¸000 and 500¸000 kwanzas.
Kwanza reajustado¸ AOR¸ 1995-1999
The kwanza reajustado replaced the novo kwanza in 1995¸ and the rate was 1¸000 to 1. The ISO 4217 code for Kwanza reajustado was AOR. There was no change in the tendency of inflation and thus no coin was issued this time too. The smallest denomination of the kwanza note that was used was 1000 kwanza reajustado. 5¸000¸ 10¸000¸ 50¸000¸ 100¸000¸ 500¸000¸ 1¸000¸000 and 5¸000¸000 kwanzas were also issued.
Second kwanza¸ AOA¸ 1999
The currency which was simply named as Kwanza was introduced in the year¸ 1999. This kwanza¸ unlike its predecessors¸ was subdivided into 100 cêntimos. The coins were reintroduced after a long time. In spite of high inflation that it suffered in the early days of its introduction¸ Angolan kwanza has become considerably stabilized now.
Angolan kwanza Coin Types
In the year 1999¸ coins of 10 cêntimos and 50 cêntimos struck in copper plated steel were issued. Coins of 1 kwanza¸ 2 kwanzas and 5 kwanzas were also issued¸ made of cupro-nickel.
Angolan kwanza Banknote Types
In the December of 1999¸ Angolan kwanza banknotes were issued in the denominations of 1 kwanza¸ 5 kwanzas¸ 10 kwanzas¸ 50 kwanzas¸ and 100 kwanzas. 200 kwanzas¸ 500 kwanzas and 1000 kwanzas were introduced on 19th July 2004. 2000 kwanzas banknotes followed after two years¸ that is in 2006. On the obverse of the banknotes¸ there is the picture of Agostinho Neto¸ José Eduardo dos Santos while the notes of different values has different pictures and symbols on the reverse of the notes:
- 1 kwanza - Women picking cotton
- 5 kwanzas - Mountain pass
- 10 kwanzas - 2 antelopes
- 50 kwanzas - Off-shore oil rig
- 100 kwanzas - Banco Nacional de Angola
- 200 kwanzas - Aerial view of Luanda
- 500 kwanzas - Cotton
- 1000 kwanzas - Coffee plantation
- 2000 kwanzas – Sea shore
Currency Exchange Rate to other World Famous Currencies like US¸ UK etc
As of March 3rd¸ 2011¸ the currency exchange rates of Angolan kwanza to the currencies of US and UK are:
1.00 USD = 93.0330 AOA
1.00 GBP = 151.820 AOA
However¸ the values are floating¸ and the exchange rates always tend to change according to the money market trends.
Official website details of Angolan kwanza
You can check the official website for Angolan kwanza at www.bna.ao for more details on the currency.