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The basic monetary unit of Angola, equal to 100 lwei.‘In contrast, the Angolan kwanza and the Nigerian naira have depreciated against the US dollar over the period which may have protected their competitiveness.’
- ‘The private weekly papers are difficult to come by outside of Luanda; in any case, a third of Angolan adults cannot read, and few can afford papers that sell on the street for 120 kwanzas.’
- ‘On every street corner, gangs of female money changers wave fat wads of kwanzas in the air, the fluctuating exchange rate testimony to the vagaries of the war economy.’
- ‘The US dollar is the most commonly used foreign currency and trades openly side by side with the kwanza (local currency), at the rate of 1 to 80 in March 2004.’
- ‘The new kwanza, the national currency, is subject to high inflation rates.’
Perhaps from a Kiswahili word meaning ‘first’.
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