In this article, We learn about "Angola Kwanza (AOA)".Let's Go!
The Angola Kwanza (AOA) is the official currency of Angola, a country in Southern Africa.
It is issued and managed by the Banco Nacional de Angola, the country’s central bank.
The kwanza is subdivided into 100 smaller units called cêntimos, but due to inflation, cêntimo coins are no longer in circulation.
The kwanza was introduced on September 8, 1977, replacing the escudo at a rate of 1 kwanza = 1 escudo.
Over the years, the currency has undergone several revaluations and redenominations.
The current series of banknotes in circulation are in 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 experienced fluctuations over time due to various factors such as political instability, economic conditions, and high inflation rates.
The currency’s exchange rate is often determined by the central bank’s monetary policy and foreign exchange market interventions.
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