Angola Kwanza (AOA)
Tue, Apr 15The Angola Kwanza (AOA) serves as the official currency of Angola, a nation located in Southern Africa. It is issued and overseen by the Banco Nacional de Angola, which is the central bank of the country.
The kwanza is divided into 100 smaller units known as cêntimos; however, due to inflation, cêntimo coins are no longer in circulation. The kwanza was first introduced on September 8, 1977, replacing the escudo at a conversion rate of 1 kwanza to 1 escudo.
Over the years, the currency has experienced multiple revaluations and redenominations. The current series of banknotes in circulation includes denominations of 1, 5, 10, 50, 100, 200, 500, 1,000, 2,000, and 5,000 kwanzas. Coins are available in denominations of 1, 2, 5, 10, 20, and 50 kwanzas.
The value of the Angola Kwanza has seen fluctuations over time, influenced by various factors such as political instability, economic conditions, and high inflation rates. The exchange rate of the currency is often determined by the monetary policy of the central bank and interventions in the foreign exchange market.
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