Monday, May 6, 2013
SECOND KWANZA, AOA, 1999 -
In 1999, a second currency was introduced simply called the kwanza. 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 Coins in 10 and 50 cêntimo denominations are no longer used, as the values are minuscule. Bank Notes The banknotes are quite similar in design, with only different colours separating them. The Banco National 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) are planned to be issued on May 31, 2013.