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.
18/03/2020: COVID-19 pandemic impact
The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.
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.
13/10/2011: Record high exchange rate
The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.
06/10/2008: Global Financial Crisis
The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.
08/11/1999: Return to Kwanza
Angola reintroduced the Kwanza as the official currency, replacing the Kwanza Reajustado, at a rate of 1,000 Kwanza Reajustado to 1 Kwanza.
18/02/1999: Introduction of Kwanza Reajustado
Kwanza Reajustado was introduced as a temporary currency, with 1 Kwanza Reajustado equal to 1,000 regular Kwanzas.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
31/03/1990: Kwanza Revaluation
In an attempt to combat hyperinflation, the government redenominated the currency, with 1 new Kwanza equal to 1,000 old Kwanzas.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
08/01/1977: Introduction of the Kwanza
Angola introduced the first Kwanza currency, replacing the Portuguese Escudo, with 1 Kwanza equal to 1 Escudo.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.