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Currency Information on AOA and Currency Information on Angolan Kwanza - AOA — Angolan Kwanza – Kz. The foreign exchange currency code for AOA represents the Angolan Kwanza currency exchange rate.

Since 1977, Angola has had 4 currencies by the name of ‘kwanza’. The first of which bore the date when the country gained independence – 1975 – rather than an issue date. Banknotes were first released into circulation in 1977, and were available in five denominations, from 20 kwanzas through to 1,000 kwanzas.

The second kwanza, which is still in circulation, was designed to subdivide into 100 centimos, and to reduce the amount of coins available. Now there are 1, 2, 5, and 10 kwanza coins, with 10 and 50 centimo coins available, but rarely used. Current banknotes in circulation are 10, 50, 100, 200, 500, 1,000, 2,000 and 5,000 kwanzas. Angola’s banknotes are very similar in appearance with only colours separating one denomination from another.

To guarantee a higher cash security and to battle cash fraud presented available, in 1981, 1984 and 1986 minor changes were embraced, through Decrees No. 7/81, of January 28, and No. 27/86, of December 13.

At the point when the oil cost dropped from 30 USD to 13 USD/barrel in 1986, a more grounded overvaluation of the cash was felt, which had a settled swapping scale of 30,214 AOK per US Dollar.

In 1990, amid the move time frame from the communist model of improvement to the market economy, the present money Angolan kwanza was supplanted by the New Kwanza (AON), made by Law No. 12/90, of September 22, by the Comissão Permanente da Assembleia do Povo (the Standing Committee of the People's Assembly).

For this new money, coins from the past cash were kept up and the old Kwanza bills, made by Decree No. 7/81, of January 28, and No. 27/86, of December 13, were republished with the words "NEW KWANZA" to speak to the new money, in which the banknotes of AON 1,000 and AON 500 reused the votes of a similar Angolan kwanza category, while the banknotes of AON 5,000 flowed as vote AOA 100 with the printed words "5000 NEW kwanza".

The money trade prepare comprised in the trading of 5% of the coursing trade and out the solidifying of 95% of it saved in the Central Bank, with the guarantee of the issuance of government securities. This lone happened two years after the fact, with the distribution of Decree No. 12/92, of March 20.

Law No. 20/91, of June 8, approved the Central Bank to issue banknotes made by Law No. 12/90, putting into course banknotes with the face estimation of AON 5,000, AON 1,000, AON 500 and AON 100. These bills and the reproduced bills existed together until the production of the Notice No. 3/93, of January 29, when reproduced banknotes' esteem ended up plainly invalid.

The Government continued to the cheapening of New Kwanza on March 18, November 18 and December 28, in 1991, and soon thereafter 1 US Dollar was equal to 180 New Kwanzas.

Law No. 10/92 approved the Banco Nacional de Angola to issue banknotes of AON 10,000 and coins of AON 100 and AON 50 facial esteem.

Impacted by the rising swelling, that prompted a money related extension and to a general costs increment, Law No. 7/93, of July 2, was issued, approving the issuance of face esteem banknotes of AON 100,000 and AON 50,000. Along these lines, Law No. 9/94, of August 19, presented the banknote AON 500,000.

The national money was degraded such that in 2005 AON 500.000 represented USD 0.15, which prompted the formation of another cash, the Kwanza Readjusted (AOR), by Law No. 4/95, of July 1, where 1 AOR added up to 1.000 AON. Law No. 5/95 of July 1 approved the issuance of banknotes AOR 10,000, AOR 5,000, AOR 1,000. As cash still had a lessened acquiring power, banknotes of bigger group were discharged, through Law No. 10/96, of April 26, putting into flow banknotes of AOR 5,000,000, AOR 1,000,000, AOR 500,000, AOR 100,000 and AOR 50,000.

Confronting an expanding expansion level, which achieved three digits, with a deficiency of banknotes, in 1999 an administrative bundle expected to present more control instruments in the remote trade and fiscal markets, to be specific the advancement of premium and trade rates and the presentation of Central Bank Bonds was endorsed.

Keeping in mind the end goal to rearrange bookkeeping systems and to expand the national cash obtaining power, the Kwanza (AOA) was again presented, through Law No. 11/99, of November 12, with the comparability of 1 Kwanza = 1.000.000 AOR. The new banknotes and Kwanza money started coursing in December 1999, as the Law No. 12/99, of November 12, was issued, with banknotes of AOA 100, AOA 50, AOA 10, AOA 5, AOA 1, and coins of AOA 5, AOA 2 and AOA 1.

The straightened out Kwanza (AOR) wound up noticeably invalid in 2000 through Notice No. 4/00, of March 31, and the trade time frame endured until 2005, by authorization of Banco Nacional de Angola, given the measure of banknotes available for use.

In December 2003 the Law No. 30/03, of December 30, was distributed, approving the issuance of bigger division notes, specifically, AOA 10,000, AOA 5,000, AOA 2,000, AOA 1,000, AOA 500 and AOA 200. The banknotes of AOA 5,000 and AOA 10,000 never coursed, in spite of the fact that its issuing was approved.

All the more as of late, through Law No. 20/12, of July 30, BNA put into dissemination another Kwanza family through business banks and other financial specialists. This new Kwanza family stood separated from the 1999 banknotes arrangement through the change of the physical attributes and through more prominent security highlights, agreeing to the worldwide necessities.

The 1999 Kwanza family banknotes kept on being acknowledged as methods for installment until December 31, 2014, and after that date they may at present be stored in business banks until June 30, 2015.

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