28 January 2013

Angola to Release New Banknote Series On Tuesday

Luanda Angola Reserve Bank (BNA) announced it will release officially a new banknote series on Tuesday."

This is contained in a note released by the institution sent to Angop in Luanda.

The decision to issue a new series was approved on June 26, 2012 by the National

Assembly and passed into law by a majority vote.

José de Lima Massano, the governor of the BNA, said that the process has not to do with the change of currency.

According to him, the new banknotes will be gradually introduced in the economy and will circulate simultaneously with the current ones until their full remove from the circuit.

The new series comprise Kwanza notes of of 1, 5, 10, 50,100, 200, 500, 1000, 2000,

5000 and 10000, while the metallic coins: five and two kwanzas as well as 50 and 10 cents.

As for the Kwanza notes of 5000 and 10000, Massano said those higher denominations will only be released "as necessary."

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