The currency used in Angola is the kwanza (Kz), which is recognised by the Angolan government as the country's official legal tender. The kwanza is divided into 100 cêntimos and is issued and managed by the Banco Nacional de Angola. It was first introduced in 1977 after Angola gained independence from Portugal, replacing the Portuguese escudo.
Characteristics | Values |
---|---|
Currency Name | Kwanza |
Currency Symbol | Kz |
ISO 4217 Code | AOA |
Banknote Denominations | 10, 50, 100, 200, 500, 1,000, 2,000 |
Coin Denominations | 1, 2, 5, 10, 50 cêntimos |
Coins No Longer in Use | 10 and 50 cêntimo coins |
Currency Origin | Named after the Kwanza River |
Official Recognition | Recognised by the Angolan government |
Exchange Rate (August 2024) | 1 AOA = 0.00108938 USD |
What You'll Learn
- Angola's official currency is the kwanza
- The kwanza is recognised by the Angolan government and can be used to pay for goods, services, taxes, and debts
- The US dollar is widely accepted as a secondary currency in Angola
- Credit and debit cards are accepted in Angola, especially in touristy establishments
- Angola's currency code is AOA, and its currency symbol is Kz
Angola's official currency is the kwanza
The kwanza is subdivided into 100 cêntimos and is issued and managed by the Banco Nacional de Angola. The currency symbol for the kwanza is Kz, and its ISO 4217 code is AOA. Currently, the kwanza banknotes in circulation are in denominations of 10, 50, 100, 200, 500, 1000, and 2000. The kwanza coins are in denominations of 1, 2, 5, 10, and 50 cêntimos, although the 10 and 50 cêntimo coins are no longer used due to their negligible value.
The kwanza has undergone several changes since its introduction in 1977. Initially, it replaced the Portuguese escudo at par and was subdivided into 100 lwei. This first kwanza, with the ISO 4217 code AOK, had a stable exchange rate of 29.918 kwanzas to the US dollar. However, in 1990, the novo kwanza was introduced, replacing the old kwanza at par. This new currency suffered from high inflation, and in 1995, it was replaced by the kwanza reajustado at a rate of 1000 to 1. The kwanza reajustado also experienced continued inflation, and in 1999, a second kwanza was introduced, replacing the kwanza reajustado at a rate of 1,000,000 to 1. This second kwanza brought back the usage of coins, which had not been minted previously due to inflation.
While the kwanza is the only officially accepted currency in Angola, the US dollar is widely recognised as a secondary currency. Credit cards, such as VISA and Mastercard, are also accepted in Angola, especially in tourist establishments. Additionally, debit cards, prepaid travel cards, and mobile payment services may be used in some places. However, it is important to note that there are restrictions on the amount of money that can be brought into and taken out of Angola, with a limit of US$15,000 for both residents and non-residents.
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The kwanza is recognised by the Angolan government and can be used to pay for goods, services, taxes, and debts
The kwanza is the official legal tender in Angola and is recognised by the Angolan government. It is the only currency that is officially accepted in the country. The kwanza is issued and managed by the Banco Nacional de Angola.
The kwanza was introduced following Angola's independence in 1977, replacing the Portuguese escudo. The currency derives its name from the Kwanza River. The kwanza is subdivided into 100 cêntimos or Iwei.
The kwanza is used to pay for goods, services, taxes, and debts in Angola. It is also used to settle all other financial obligations in the country. The currency has gone through several denominations since its introduction, with four different currencies using the name kwanza circulating since 1977.
The current kwanza, also known as the second kwanza, was introduced in 1999. It replaced the previous kwanza at a rate of 1,000,000 to 1. The second kwanza reintroduced coins, which had not been minted previously due to inflation. The second kwanza is subdivided into 100 cêntimos.
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The US dollar is widely accepted as a secondary currency in Angola
The kwanza (ISO 4217 code: AOA; symbol: Kz) is the official currency of Angola. It is recognised by the Angolan government and can be used to settle all financial obligations in the country. However, the US dollar is also widely accepted as a secondary currency in Angola.
The kwanza was introduced in 1977 after Angola gained independence from Portugal. It replaced the Portuguese escudo at par and was subdivided into 100 lwei. The kwanza has undergone several changes since its introduction, with four different currencies using the name kwanza circulating since 1977. The current kwanza, also known as the second kwanza, was introduced in 1999 and replaced the previous kwanza at a rate of 1,000,000 to 1. It is subdivided into 100 cêntimos.
The US dollar is widely accepted in Angola, especially in tourist establishments. This may be due to the fact that euros are scarcely recognised in the country. Additionally, there is a limit to the amount of kwanza that can be brought into and taken out of Angola, which may contribute to the use of the US dollar as a secondary currency. The limit for importing and exporting kwanza is Kz50,000, which is approximately $15,000 USD. Amounts over $15,000 USD must be declared when entering or leaving Angola, and proper forms must be presented to customs.
It is important to note that while the US dollar is widely accepted, it is not officially recognised as a currency in Angola. The kwanza is the only official legal tender in the country. As such, it is advisable to have some kwanza banknotes for small purchases, tipping, and emergencies when visiting Angola.
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Credit and debit cards are accepted in Angola, especially in touristy establishments
The currency used in Angola is the kwanza, which is the country's official legal tender. While the kwanza is the only currency officially accepted in Angola, the US dollar is also widely recognised as a secondary currency.
If you plan to use your credit or debit card in Angola, it's advisable to inform your bank or credit card company about your travel plans to avoid any unexpected blocks on your card. Additionally, be mindful of international fees and charges associated with using your card abroad.
For those visiting Angola, it's recommended to have some kwanza banknotes on hand for small purchases, tipping, and emergencies. Currency can be exchanged at banks or exchange bureaus before or upon arrival in the country.
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Angola's currency code is AOA, and its currency symbol is Kz
Angola's currency is the kwanza, which is the country's official legal tender. The kwanza is recognised by the Angolan government, and it is the only currency that is officially accepted in Angola. The currency code for the kwanza is AOA, and its currency symbol is Kz.
The kwanza was introduced in 1977 after Angola gained independence from Portugal. The kwanza replaced the Portuguese escudo and was subdivided into 100 lwei. Since its introduction, four different currencies using the name kwanza have circulated in Angola. The current kwanza, also known as the second kwanza, was introduced in 1999 and replaced the first kwanza at a rate of 1,000,000 to 1. The second kwanza is subdivided into 100 cêntimos, and it saw the reintroduction of coins.
The kwanza is issued and managed by the Banco Nacional de Angola (National Bank of Angola). The current printed banknote denominations are 10, 50, 100, 200, 500, 1,000, and 2,000 kwanzas. The coins are split into denominations of 1, 2, 5 kwanzas, and 10 and 50 cêntimos (although the 10 and 50 cêntimo coins are no longer used as their value is negligible).
Although no other currency is officially accepted in Angola, the US dollar is widely recognised as a secondary currency. It is advisable to bring US dollars instead of euros when travelling to Angola, as euros are scarcely recognised in the country.
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Frequently asked questions
The currency used in Angola is the kwanza.
The symbol for the kwanza is Kz.
No other currency is officially accepted in Angola, but the US dollar is widely accepted as a secondary currency.
The kwanza is split into 100 cêntimos. Printed banknote denominations are 10, 50, 100, 200, 500, 1,000, 2,000 kwanzas. Coins are in denominations of 1, 2, 5 kwanzas, and 10 and 50 cêntimos (though these are rarely used as their value is negligible).
Exchange rates fluctuate. As of August 27, 2024, 1 kwanza was equal to 0.00108938 US dollars.