New kwanza banknotes are due to go into circulation in Angola in the first half of this year, the governor of the Bank of Angola (BNA), José de Lima Massano, said Monday in Luanda.
Speaking at a meeting to discuss the General State Budget for 2013 the governor of the BNA said that on 29 January an official statement would be made on the matter, according to Angolan news agency Angop.
In 2012 the BNA announced that a new family of banknotes and coins would be issued, particularly in higher denominations (5,000 and 10,000 kwanzas).
The governor also pointed out the immediate advantages to the country’s economy of using the latest production technology and that the country would have international standard banknotes and coins in circulation.
Other advantages noted by Massano were a longer lifetime for the money in circulation, better protection against falsification, as well as putting metal coins back into circulation, which would relieve the problem of a lack of change in the retail sector. (macauhub)