Africa Angola Currency Finance Legislation

New Angola banknotes being introduced progressively

When the new Instructive notice of the Banco Nacional de Angola (National Bank of Angola) based on the Law 7/20, of March 30 comes into force, the new family of kwanza called “Series 2020” will be released.

The new banknotes are more durable and safer due to the new security characteristics that make them more difficult to counterfeit.

The new banknotes with the face value of 200, 500, 1000, 2000, 5000, and 10000 kwanzas have illustrations of the natural beauties of Angola.

The new kwanza banknotes will be introduced progressively in the same proportion of the withdrawal of the current banknotes, preventing a price scale not adjusted to the economy.

The creation of this new banknotes has the purpose of minimizing the costs with the production and maintenance of the actual banknotes, being made of plastic (polymer substrates) instead of paper.

The Banco Nacional de Angola, through its partners and economic operators, will plan a strategy to the withdrawal of the current banknotes bearing in mind the need to avoid an underload on the market.

With the implementation of the banknotes with higher face values, it is crucial to highlight the influence on the purchasing power, becoming this more limited. Therefore, on these occasions, there is always a readjustment of the goods and services’ price.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: