8 February 2013

Angola: New Kwanza Banknotes, Coins Presented

Menongue — The administrator of the Angola Reserve Bank (BNA), Ramos da Cruz, Thursday in Menongue, south-eastern Kuando Kubango province, made the official presentation of the new Kwanza banknotes and metallic coins to the local authorities.

Speaking to the press at the end of the ceremony, Ramos da Cruz said the activity was intended to present the advantages of the release of the new banknotes and metallic coins in the country as from February 18.

According to the economist, the new Kwanza banknotes will ensure more security and facilitate changes, given the release of new coins of low face value.

"We explained the main advantages in the use of the new notes and coins, their modern and more efficacious methods of security and also mentioned the need for the use of metallic coins," he stressed.

The official said the meeting was fruitful as it served to appeal to the population to more and more use the national currency, in contrast to the still high circulation of foreign money in the province, which is stimulated by the geographic position of the region that borders with Namibia to the south and Zambia to the east.

He added that the introduction of the new bills and metallic coins will not cause any inflations and the population will be able to gradually exchange the notes through the banking system.

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