Angola Hyperinflation Banknotes

invisible

invisible

1,000,000 Kwanzas Reajustados 1995

Front: José Eduardo dos Santos (1942-) and António Agostinho Neto (1922-1979), current and former president of Angola respectively

José Eduardo dos Santos was educated in the Soviet Union as an engineer. He was foreign minister in the first government of independent Angola. He succeeded Neto as president in 1979. In 1991, he abandoned Marxism and negotiated an end to the civil war with the insurgent National Union for the Total Independence of Angola (UNITA). The peace ended when dos Santos outpolled UNITA candidate Jonas Savimbi for the presidency, and UNITA forces resumed fighting in 1992. A second peace effort in 1994 also ended in renewed fighting in 1998.

António Agostinho Neto received his medical degree in Lisbon. Upon his return to Angola, he actively involved in organizing opposition to colonial rule. He was arrested by authorities, but escaped to Morocco to become an important leader of Angolan resistance from exile. He became the President after Portuguese withdrew from Angola in 1975.

Back: School girl

invisible

5,000,000 Kwanzas Reajustados 1995

Front
Enlarge

Back
Enlarge

This note is not in my collection. Scans courtesy of Steve Burke.

Front: José Eduardo dos Santos (1942-) and António Agostinho Neto (1922-1979), current and former president of Angola respectively

Back: View of Serra da Leba

Back to Hyperinflation Banknotes

Angola went through a period of hyperinflation between 1991 and 1999. Before 1991, the highest denomination was 1,000 Kwanzas. By 1994, it was 500,000 Kwanzas. In the 1995 currency reform, 1 Kwanza Reajustado was exchanged for 1,000 Kwanzas. But before the year was over, the highest denomination already reached 5,000,000 Kwanzas Reajustados. In the 1999 currency reform, 1 new Kwanza was exchanged for 1,000,000 Kwanzas Reajustados.
The overall impact of inflation: 1 current Kwanza = 1,000,000,000 pre 1995 Kwanzas.

invisible

Top of Page

invisible