29 January 2013

Angola: BNA Ensures Progressive Introduction of New Banknotes Series

Photo: Google
Angolan Kwanza.

Luanda — Angola Reserve Bank (BNA) (Tuesday) here assured that introduction of the new series of Kwanza banknotes and metallic coins will be made in a phased manner, in order to ensure the stability of the economy.

The BNA governor José de Lima Massano reassured so at the official launch of the new series of national currency, whose circulation of metallic coins is set for 18 February.

He stressed that the issuance of the coins reveals the BNA's concern about maintaining fairer relationships trade.

In this context, said the official, the retailers will get more opportunities and more choices in setting the price of the goods, avoiding rounding for values always higher due to the lack of small denomination series José de Lima Massano underlined that after metallic coins. the BNA will put into progressive circulation the banknotes, including 5000 Kwanzas.

The new series of banknotes and coins comprises 1, 5, 10, 50,100, 200, 500, 1000, 2000, 5000 and 10000 kwanzas, while the coins

includes 5 and 2 Kwanzas as well as 50 and 10 cents.

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InFocus

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Angolan Kwanza.

The Reserve Bank is set to phase out the old regime of Kwanza and inject new notes and coins into circulation. Read more »