Angolan Kwanza
The Angolan Kwanza is the official currency of Angola. It was introduced in 1999, replacing the previous currency, the Angolan Escudo. The Kwanza is subdivided into 100 smaller units called "Lwei". The currency is issued by the National Bank of Angola and its value is determined by the foreign exchange market.
The Kwanza has faced challenges over the years due to factors such as inflation, political instability, and a reliance on oil exports. However, efforts have been made by the government to stabilize the currency and promote economic growth.
In terms of usage, the Kwanza is widely accepted in Angola for transactions such as purchasing goods and services, paying bills, and making investments. It can also be exchanged for other currencies at banks and exchange bureaus.
Overall, the Angolan Kwanza plays an important role in the economy of Angola and its stability is crucial for the country's growth and development.
Below is the related paper currencies in Angolan Kwanza.
2020 AOA1000