Novo Kwanza

(redirected from Angolan Novo Kwanza)

Novo Kwanza

The currency of Angola between 1990 and 1995. It was issued to reduce inflation; thus, while it replaced the first kwanza at par value, holders of the currency were only permitted to change five percent of the old currency for the new currency. The rest were exchanges for government securities. This did not resolve inflationary pressures and the novo kwanza was replaced by the kwanza reajustado.