Angolan escudo ( port. Escudo angolano ) - Portuguese overseas escudo , the currency of Angola from 1914 to 1928, as well as from 1958 to 1977. Divided into 100 centavos .
| Angolan escudo | |||
|---|---|---|---|
port. Escudo angolano | |||
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| Codes and Symbols | |||
| Characters | $ • E • Esc | ||
| Territory of circulation | |||
| Issuing country | - | ||
 Portuguese West Africa
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| Derivative and parallel units | |||
| Fractional | Centavo ( 1 ⁄ 100 ) | ||
| Coins and Banknotes | |||
| Coins | 10, 20, 50 centavos 1, 2 ½, 5, 10, 20 escudos | ||
| Banknotes | 20, 50, 100, 500, 1000 escudos | ||
| Story | |||
| Introduced | 1914 (I time) 1958 (II time) | ||
| Predecessor currency | Angolan Real (1914) | ||
| Chronicle | Angolan escudo (1914-1928) Angolar (1926-1958) Angolan escudo (1958-1977) | ||
| Start of seizure | 1928 (I time) [s 1] 1977 (II time) | ||
| Successor currency | Angolan Kwanzaa (1977) | ||
| Issue and production of coins and banknotes | |||
| Emission Center (Regulator) | National Overseas Bank Bank of Angola | ||
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Content
History
The introduction of escudos in the colonies of Portugal took place in 1914. Escudo replaced the Angolan real at the rate of 1000 reais = 1 escudo. In 1928, the new Angolar currency was introduced. The banknote exchange rate is 1.25 escudos = 1 angolar, while exchange centavos continued to be used at face value 1 centavo = 1/100 angolar. Centavo rose 1.25 times. Angolar had equivalent purchasing power parity with Portuguese escudos, as did Angolan escudos until 1928. Thus, monetary reform was a devaluation of escudo banknotes.
In 1953, Portugal began to unify the currencies of its colonies. This process was completed in Angola in late 1958 with the reintroduction of escudos. Escudo was replaced in 1977 by the Angolan Kwanzaa in a 1: 1 ratio.
Coins
In 1921, bronze coins in denominations of 1, 2, and 5 centavos, as well as copper-nickel coins in denominations of 10 and 20 centavos , were put into circulation. The following year, a nickel coin of 50 centavos was introduced. In 1927, copper-nickel coins in denominations of 1, 2 and 4 escudos, as well as 50 centavos, were issued. New bronze coins in denominations of 10 and 20 centavos were issued in 1948 .
In 1952, the first escudo coins were issued, although the escudo did not officially replace the Angolar until the end of 1958. Silver coins in denominations of 10 and 20 escudos were minted, after bronze coins in denominations of 50 centavos and 1 escudo, as well as copper-nickel coins in denominations of 2 ½ escudos in 1953 . A copper-nickel coin replaced a silver coin with a face value of 10 escudos in 1969 , and a nickel coin replaced a silver coin with a face value of 20 escudos in 1971 . A 5-escudo copper-nickel coin was issued in 1972 .
Banknotes
In 1914, the Portuguese National Overseas Bank issued notes in denominations of 5, 10 and 50 centavos. 50 escudos appeared in 1920 . In 1921, banknotes appeared in denominations of 1, 2 ½, 5, 10, 20 and 100 escudos.
In 1956, the Bank of Angola already introduced banknotes in denominations of 20, 50, 100, 500 and 1000 escudos. These five denominations were in circulation until the introduction of kwanzaa in 1975.
Notes
Literature
- Krause, Chester L., and Clifford Mishler (1991). Standard Catalog of World Coins : 1801-1991 (18th ed. Ed.). Krause Publications. ISBN 0-87341-150-1 .
- Pick, Albert (1994). Standard Catalog of World Paper Money : General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9 .