ANGOLA

(AOA) Currency News >>

CURRENCY:

Kwanza (AOA), also known as the New Kwanza.

DENOMINATIONS:

NOTE: AOA 100, 50, 10 and 5

COIN : AOA 100, 50, 20, 10, 5, 2 and 1, and 50, 20 and 10 centimos

US DOLLAR ACCEPTED:

Yes, widely

CREDIT/DEBIT CARDS AND ATMS:

Cash withdrawal is not possible. Credit cards are not generally accepted. American Express, Diners Club and Visa enjoy limited acceptance.

CURRENCY EXCHANGE:

If needing currency exchange, only do this at an official bureau de change. These can be found mostly in Luanda, but also throughout the country. Do not get caught exchanging money on the balck market as this is illegal.

TRAVELLER'S CHEQUES:

Travellers Cheques are not accepted in Angola.

CURRENCY RESTRICTIONS:

Restrictions apply. Local currency is prohibited for export, and limits apply for import. On international currency, declaration is mandatory on both import and export.

BANKING HOURS:

Mon –Fri, 0845 -1600.

COUNTRY OVERVIEW:

Officially known as the Republic of Angola, this country in south-central Africa was a colony of Portugal until 1975. The capital is called Luanda, and is also the biggest city in Angola. Despite being the second largest producer of diamonds and petroleum it has some of the worst rates of poverty in Africa. The main religion practised in Angola is Christianity at 53%, with the remaining 47% practising indigenous beliefs.

POPULATION:

Around 17 million

ECONOMY:

The economy of Angola has recently been one of the fastest-growing in the world, after years of chaos thanks to war in the area. Rising oil production has been thanked for the increase in growth as well as a loan of $2 billion from Eximbank of China, given in 2004 and used to build up the infrastructure. However, Angola is also labelled as having some of the worst levels of corruption in the world.