29 January 2013

Angola: BNA Releases Akz 750 Million in Bank Notes, Coins

Luanda — The Angola Reserve Bank (BNA) has announced it will make available from 18 February this year 750 million Kwanzas in bank notes and metallic coins of the new series to gradually support the country's economy.

The deputy governor of BNA, António André Lopes, said this at the end of the press conference of presentation and official release of the new Kwanza notes, 50 cent, 1, 5 and 10 kwanzas (coins) and 50, 100, 200, 500, 1000, 2000 and 5000 kwanzas.

The manager said the current notes in circulation, and the new series of banknotes and coins will co-exist until the final withdrawal of the former.

During the first year, at least two thirds of quantity manufactured will enter into the circulation, he stressed.

According to him, 750 million kwanza banknotes are currently in circulation and should the economy demands the new series will be in circulation, with equal amount of notes.

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