Angolan kwanza

kwanza angolano (Portuguese)

Angolan kwanza coins
Current coins

ISO 4217 code


Official users

Flag of Angola Angola

Years circulated



8.9% (2013)[1]


1/100 cêntimo




10, 50 cêntimos, 1, 2, 5 kwanza

Central bank

Central Bank of Angola

The Angolan kwanza (Portuguese: kwanza angolano; sign: Kz; code: AOA) is the currency of Angola. It is subdivided into 100 cêntimos. The currency was first introduced in 1977, and four different kwanza currencies have been introduced since then.

First kwanzaEdit

The kwanza was first introduced on January 8, 1977, following Angola's independence from Portugal in 1975. It replaced the Angolan escudo at par and was subdivided into 100 lwei. The first kwanza's ISO 4217 code was AOK. It was used until September 24, 1990.



A 1979 50 lwei coin.

The first issue of coins was introduced in 1977. All of these coins bore a legend on the obverse reading "11 DE NOVEMBRO DE 1975" (November 11, 1975), which was the date of Angola's independence, and the Angolan coat of arms. The coins were composed of cupronickel, and came in denominations of 50 lwei, 1, and 10 kwanza. In 1978, cupronickel 2, 5, 20 kwanza and copper 50 kwanza coins were introduced, followed by a copper 100 kwanza coin in 1979 and a copper-clad steel 50 kwanza commemorative coin in 1992.


Angola 100 kwanzas 1976 obv

A 100 kwanza note.

In 1977, banknotes (dated 1976) were introduced by the Central Bank of Angola in denominations of 20, 50, 100, 500, and 1000 kwanza. Specimen varieties of these notes were also known to have been printed. In 1978, the 20 kwanza note was replaced by a coin of the same value. A year later, in 1979, a new issue of these notes was printed, which bore the signature of a new central bank governor.

Novo kwanzaEdit

In 1990, the novo kwanza ("new kwanza") was introduced, with an ISO 4217 code of AON. Even though it replaced the original kwanza at par, Angolans could only exchange 5% of all old notes for new ones; they had to exchange the rest for government securities. The novo kwanza suffered from high inflation, and came to an abrupt halt on June 30, 1995.


Angola 100 kwanzas 1991 obv

A 100 kwanza note.

The first banknotes, issued in 1990, were overprints on banknotes from the first kwanza in denominations of 50, 500, 1000, and 5000 novo kwanza. In 1991, the word "novo" was dropped from the banknotes, and an issue consisting of 100, 500, 1000, 5000, 10,000, and 50,000 was issued. In 1993, the 100,000 kwanza note was introduced, followed by the 500,000 kwanza note in 1994.

Kwanza reajustadoEdit

Angola 50000 kwanzas reajustados 1995 obv

A 50,000 kwanza note.

On July 1, 1995, the Angolan kwanza reajustado ("readjusted kwanza") was introduced, with the ISO 4217 code, AOR. It replaced the previous kwanza at a rate of 1 kwanza reajustado = 1000 novos kwanzas. The inflation continued, and no coins were issued. The readjusted currency was issued until November 30, 1999.


The banknotes of the kwanza reajustado were similar in appearance to the notes of the novo kwanza. They were issued in denominations of 1000, 5000, 10,000, 50,0000, 100,000, 500,000, 1,000,000, and 5,000,000 kwanza.

Current kwanzaEdit

On December 1, 1999, the second kwanza was introduced, having an ISO 4217 code of AOA. It is subdivided into 100 cêntimos. The second kwanza reintroduced coined currency, though it suffered from inflation early on. The value has since been stabilized.


Angola 1 kwanza 1999

A 1 kwanza coin.

In 1999, a series of coins consisting of copper-plated steel 10 and 50 cêntimos, and nickel-plated steel 1, 2, and 5 kwanzas was introduced. The 10 and 50 cêntimo coins are no longer used due to having minuscule values, even though they are still legal tender. Also in 1999, two commemorative 10 kwanza coins and a commemorative silver 100 kwanza coin were introduced.


Angola 1 kwanza 1999 obv

A 1 kwanza note.

On December 1, 1999, banknotes in denominations of 1, 5, 10, 50, and 100 kwanza were introduced. These were followed by 200, 500, and 1000 kwanza notes on July 19, 2004, and the 2000 kwanza note in 2006. All of these banknotes are similar in design, with each depicting Presidents Agostinho Neto and José Eduardo dos Santos on the obverse. Therefore, these banknotes can only be easily distinguished by their colors.

Exchange ratesEdit

Historical exchange ratesEdit

This table shows the historical value of one United States dollar in kwanzas:

Date Currency Rate
1994 AON kwanza 34,200 to 850,000
January–June 1995 AON kwanza 1,000,000 to 2,100,000
July 1, 1995 1000 AON -> 1 AOR
July–December 1995 AOR kwanza 2,100 to 13,000
1996 AOR kwanza 13,000 to 210,000 to 194,000
1997 AOR kwanza 194,000 to 253,300
1998 AOR kwanza 253,300 to 594,000
1999 AOR kwanza 594,000 to 5,400,000
December 1, 1999 1 million AOR -> 1 AOA
2000 AOA kwanza 5.4 to 16.3
2001 AOA kwanza 16.3 to 31.12
2002 AOA kwanza 31.12 to 57.47
2003 AOA kwanza 57.47 to 86.88 to 78.61
2004 AOA kwanza 78.61 to 85.90
2005 AOA kwanza 85.90 to 88.97 to 80.58
2006 AOA kwanza 80.58 to 89.01 to 80.57
2007 AOA kwanza 80.57 to 74.78 to 75.16
2008 AOA kwanza 75.16 to -

From October 1993 to January 10, 1994, January 24 1994 to June 30, 1995, and September 2, 1996 to November 30, 1999, the kwanza was the least valued currency unit.

Current exchange ratesEdit

 v · d · e
Current AOA exchange rates
From Google Finance [1]: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance [2]: AUD CAD CHF EUR GBP HKD JPY USD


 v · d · e
Angolan kwanza
Banknotes 1 Kz5 Kz10 Kz20 Kz50 Kz100 Kz200 Kz500 Kz1000 Kz2000 Kz5000 Kz10,000 Kz50,000 Kz100,000 Kz500,000 Kz1,000,000 Kz5,000,000 Kz
Coins 10 c50 c50 lw1 Kz2 Kz5 Kz10 Kz20 Kz50 Kz100 Kz
Miscellaneous CêntimoCentral Bank of AngolaLwei

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