ANGOLA
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Date	Pick#	Denomination	Observations	Obverse	Reverse
1999	143	1 Kwanza
Obverse Design: Reverse Design:
1999	144	5 Kwanza
Obverse Design: Reverse Design:
1999	145	10 Kwanza
Obverse Design: Reverse Design:
1999	146	50 Kwanza
Obverse Design: Reverse Design:

The history of Angolan Kwanza.
Since Angola’s independence in late 1975, Angola has suffered extreme inflation and has gone through several versions of the Kwanza.  The first Kwanza was issued in January 1977 at par with the Angolan Escudo. In 1990 the Angolan government replaced the Kwanza with the Novo Kwanza at par.  However the government placed a strict limit on the amount of Kwanza citizens could convert into Novo Kwanza, in order that the government could seize some of the money in the country, basically it was state sponsored theft. 1995 brought about the introduction of the Kwanza Reajustado which was equal to 1000 Novo Kwanza. During 1999 the value of the Kwanza Reajustado dropped from 594,000 Kwanza Reajustado to one American Dollar in January, to where it took over five million Kwanza Reajustado to buy an American Dollar.  The current Kwanza was introduced on 13 December 1999 at a rate of 1,000,000 old Kwanza Reajustado for one new Kwanza.  When the new Kwanza was introduced in 1999 it took 5.4 new Kwanza to buy an American Dollar and at the time of writing in 2006 it took around 80 Kwanza to buy a Dollar. The value of the Kwanza seems to have somewhat stabilized in 2004 at around 80-85 to the Dollar.

The current kwanza is divided into 100 lwei but due to the level of inflation prices are always given to the nearest kwanza.  Currently coins come in denominations of 10 and 50 lwei which are rarely used, and 1, 2 and 5 Kwanza, banknotes come in denominations of 1, 5, 10, 50, 100, 200, 500, 1000 and 2000 Kwanza.  The ISO 4217 code for the current Kwanza is AOA.

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Page created:     6 June 2006
Last Update:      16 June 2006

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