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Angola to introduce new currencies, coins 18 February

Angola is to introduce new bank notes and coins from 18 February, according to the administrator of the Angola Reserve Bank (BNA), Ramos da Cruz.

According to the Angolan News Agency (ANGOP), the administrator was speaking Thursday in Menongue, south-eastern Kuando Kubango province, where he presented samples of the notes and coins to the provincial authorities.

According to the economist, the new Kwanza banknotes will have more security features while the coins would ensure availability of change in the exchange of money.

Da Cruz appealed to Angolans in the area to make more use of local currencies instead of the prevailing use of foreign currencies following the proximity of the province to the border with Namibia (to the south) and Zambia (to the east).

He stressed that the introduction of the new bills and coins will not cause inflation, adding that the population will be able to obtain the new currencies and coins gradually through the banking system.


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