Angolan Kwanza (AOA)

Basic Concepts of the Angolan Kwanza

The Angolan Kwanza is the official currency of Angola, issued and managed by the Banco Nacional de Angola, with the currency code AOA and symbol Kz.

Countries of Use

The Angolan Kwanza circulates mainly in the Republic of Angola and is the only legal tender in the country, used for daily transactions and economic activities.

Units and Denominations

The Angolan Kwanza is divided into coins and banknotes, with the main unit being the kwanza and the secondary unit being the cent (1 kwanza = 100 cents). Common coin denominations include 1, 5, and 10 kwanzas, while banknotes have denominations of 10, 50, 100, 200, 500, 1000, 2000, and 5000 kwanzas.

Historical Background

The Angolan kwanza replaced the escudo as Angola's currency in 1977 to reflect the country's sovereignty after independence. It has undergone a number of currency reforms, including the issuance of a new kwanza in 1990 and its readjustment in 1999 in response to inflation and economic changes.