The currency of Angola is Angolan Kwanzaa. The monetary unit is practically unknown outside the country. It does not cause interest among traders, and tourism in the country is still poorly developed. However, the currency is quite interesting and exotic for the Russians.
Description
Code international designation AOA. Previously, 1 kwanza was divided into 100 change coins, which were called lions. But since 1999, when the financial reform was carried out, the lions were replaced by 100 centimos.
Now in the country in circulation are metal coins in denominations of 10 and 50 centimos, as well as 1, 5, 10 and 20 kwanzas. Banknotes are presented in denominations from 1 to 5000 AOA.
The issue of banknotes in the country is carried out by the National Bank of Angola.
History
The current currency of Angola was put into circulation in 1977. It marked the acquisition of sovereignty by the country in 1975. For several centuries, Angola was a colony of Portugal.
The former currency of Angola was called the Angolan escudo and was established on the territory of the state by the mother country. The first kwanza, which had the abbreviation AOK, was used until 1990. The updated version received the code value AON.
The modern version of kwanza AOA was introduced in 1999. Constant monetary reforms are associated with a weak economy, high inflation and large state debts.
Course, exchange and bank transfer
The value of the national currency of Angola, as of October 8, 2018, is approximately 0.22 rubles. That is, in one Russian ruble contains about 4.5 AOA. For one dollar, you can get almost three hundred Angolan Kwanzas.
You can exchange foreign money at the airport, major hotels, banks and other financial institutions. It’s better to have American dollars with you. If desired, you can exchange the euro or the South African rand. Other currencies are almost impossible to change.
Bank transfer is possible only in large restaurants, hotels and shops. Withdrawing money from an ATM is also extremely difficult, since it can only be found in large tourist cities. But even here there are not very many of them. Therefore, it is recommended that you prepare enough cash in advance to be able to pay anytime, anywhere.
The popularity of Angola as a tourist destination in recent years has been growing steadily. The country's authorities and entrepreneurs have understood the prospects of this industry, so they are actively investing in it. With the growing interest of foreigners in the country, the demand for local currency also increases.