Angolan Kwanza (AOA)
The kwanza takes its name from the Kwanza River, Angola's longest waterway. It was introduced in 1977, two years after independence from Portugal, replacing the Angolan escudo. High inflation through the 1990s forced multiple redenominations before the current kwanza was established in 1999.
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History
Angola introduced the kwanza in January 1977 to replace the Portuguese-colonial-era escudo shortly after independence in 1975. The long civil war that followed independence, combined with economic mismanagement, drove severe inflation through the 1980s and 90s, forcing the government through several redenominations — including a "novo kwanza" and "kwanza reajustado" — before the current kwanza was reestablished in 1999. As Africa's second-largest oil producer, Angola's currency has historically moved closely with global oil prices.
Denominations
Angolan kwanza banknotes currently circulate in these denominations:
- 200, 500 kwanza — lower-value notes
- 1,000, 2,000, 5,000, 10,000 kwanza — higher-value notes
Coins are issued in 1, 5, 10, 20, and 50 cêntimos.
Frequently Asked Questions
What is the currency symbol for the kwanza?
The kwanza's symbol is Kz. Its ISO 4217 currency code is AOA.
Why has the kwanza been redenominated multiple times?
Severe inflation in the 1980s and 90s, driven by civil war and economic instability, eroded the currency's value repeatedly, requiring several redenominations before the current kwanza was established in 1999.
Is the kwanza tied to oil prices?
Not officially pegged, but as Africa's second-largest oil producer, Angola's economy and currency have historically shown a strong correlation with global oil price movements.
Where can I see rates for other African currencies?
Check the full currency directory on the African Currencies homepage, which covers all 54 African countries.