01/01/2022: Currency Floatation
Angola transitioned from a fixed exchange rate to a floating exchange rate system, allowing the Kwanza's value to be determined by the market forces of supply and demand.
30/10/2020: Kwanza Devaluation
In response to economic challenges, Angola devalued the Kwanza by approximately 24%, increasing the exchange rate from 165 to 195 Kwanzas per US dollar.
23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
15/04/2013: Currency Redesign
Angola launched a new series of banknotes, featuring improved security features and new designs to reflect national landmarks and culture.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
08/11/1999: Return to Kwanza
Angola reintroduced the Kwanza as the official currency, replacing the Kwanza Reajustado, at a rate of 1,000 Kwanza Reajustado to 1 Kwanza.
18/02/1999: Introduction of Kwanza Reajustado
Kwanza Reajustado was introduced as a temporary currency, with 1 Kwanza Reajustado equal to 1,000 regular Kwanzas.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
31/03/1990: Kwanza Revaluation
In an attempt to combat hyperinflation, the government redenominated the currency, with 1 new Kwanza equal to 1,000 old Kwanzas.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
08/01/1977: Introduction of the Kwanza
Angola introduced the first Kwanza currency, replacing the Portuguese Escudo, with 1 Kwanza equal to 1 Escudo.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.