Angolan kwanza facts for kids

Quick facts for kids Angolan kwanza
ISO 4217 Code	AOA
User(s)	Angola
Inflation	10.81%
Source	Banco Nacional de Angola, 2023.
Subunit
1⁄100	cêntimo
Symbol	Kz
Coins
Freq. used	5, 10, 20, 50, 100 kwanzas
Rarely used	50 cêntimos, 1 kwanza
Banknotes	200, 500, 1,000, 2,000, 5,000 kwanzas
Printer	Goznak

The kwanza (sign: Kz; ISO 4217 code: AOA) is the official money of Angola, a country in southern Africa. The name "kwanza" comes from the Kwanza River, which is an important river in Angola.

Since 1977, Angola has used four different types of money, all called the kwanza. This article will tell you about each one.

How the Kwanza Changed Over Time

Angola has changed its money several times. This table shows when each version of the kwanza was used.

The First Kwanza (1977–1990)

The first kwanza was introduced in 1977, right after Angola became independent. It replaced the old money, called the Angolan escudo. One kwanza was divided into 100 lwei. Its special code was AOK.

When this new money came out, people could only exchange a certain amount of their old escudos for kwanzas. This kwanza stayed very stable in value compared to the US dollar for many years.

First Kwanza Coins

The first coins for the kwanza didn't have a date on them, but they all said "11 de Novembro de 1975," which was Angola's independence day. They came in values of 50 lwei, 1, 2, 5, and 10 kwanzas. Later, 20 kwanza coins were added in 1978. The last year on these coins was 1979.

First Kwanza Banknotes

On January 8, 1977, the Banco Nacional de Angola (National Bank of Angola) released banknotes. These notes were for 20, 50, 100, 500, and 1000 kwanzas. The 20 kwanza note was replaced by a coin in 1978.

The Novo Kwanza (1990–1995)

In 1990, the "novo kwanza" was introduced. Its code was AON. Even though it replaced the old kwanza at the same value, people could only exchange a small part of their old money for the new notes. They had to trade the rest for government bonds. This new kwanza quickly lost its value because of high inflation (prices going up very fast).

Novo Kwanza Banknotes

This money was mostly issued as banknotes. The first ones in 1990 were actually old notes with "novo kwanza" printed over them. Later, in 1991, new banknotes were printed without the word "novo" for values like 100, 500, 1000, 5000, 10,000, 50,000, 100,000, and 500,000 kwanzas.

The Kwanza Reajustado (1995–1999)

In 1995, the "kwanza reajustado" (meaning "readjusted kwanza") was introduced. It replaced the novo kwanza at a rate of 1,000 to 1. Its code was AOR. However, inflation continued to be a big problem, so no coins were made for this currency.

Kwanza Reajustado Banknotes

Because the old kwanza had lost so much value, the smallest banknote for the kwanza reajustado was 1,000 kwanzas. Other notes went up to 5,000,000 kwanzas.

The Second Kwanza (1999–Present)

In 1999, a new currency simply called the kwanza was introduced. It replaced the kwanza reajustado at a rate of 1,000,000 to 1. Unlike the very first kwanza, this one is divided into 100 cêntimos.

With this new kwanza, coins were used again. While it had high inflation at first, its value became more stable until 2016. After 2016, its value started to drop again. For example, between May and June 2023, it lost almost 40% of its value against the US dollar.

Second Kwanza Coins

First Series of Coins

These coins were introduced in 1999. The 10 and 50 cêntimo coins are not used anymore because their value is too small. These coins stopped being official money on January 1, 2015.

Second Series of Coins

New coins were introduced between 2012 and 2014. They came in values of 50 cêntimos, 1, 5, 10, and 20 kwanzas.

Second Kwanza Banknotes

First Series of Banknotes (1999-2011)

These banknotes have similar designs but different colors for each value. They feature Agostinho Neto and José Eduardo dos Santos, who were both presidents of Angola.

Second Series of Banknotes (2012 "Waterfalls" series)

The National Bank of Angola released a new series of banknotes in 2013, featuring beautiful waterfalls from Angola. The 5 and 10 kwanza notes were added to this series in 2017.

Third Series of Banknotes (2020 series)

In 2020, the National Bank of Angola released another new set of kwanza banknotes. These notes feature a portrait of Angola's first president, António Agostinho Neto. The notes from 200 to 2,000 kwanzas are made from a special plastic material called polymer, which makes them more durable. The 5,000 and 10,000 kwanzas notes are made from cotton paper. The 10,000-kwanza note will only be released if it's really needed.

Historical Exchange Rates

The value of the kwanza compared to the US dollar has changed a lot over the years.

• From 1977 to 1990, 29.918 kwanzas (AOK or AON) were equal to one US dollar.
• In the 1990s, Angola's money was sometimes the least valuable in the world due to very high inflation.

Where Kwanza Banknotes Are Made

The banknotes for the Angolan kwanza have been printed by a company called De La Rue in England.

See Also

• Economy of Angola