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Mon, 09 Jul 2012 15:50 - Updated Tue, 10 Jul 2012 09:03

New bank notes hamper currency counterfeiters - economist


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New bank notes, coins out in 2013

Luanda - New Angolan Kwanza (AKZ) bank notes and metallic coins of the 2012 series set to come into force early in 2013, will prevent the counterfeiters from forging the currency, said Monday in Luanda, economist Manuel Lourenço.

Speaking to Angop on the coming into circulation of the new Angolan Kwanza bank notes, Manuel Lourenço said that the Angolan currency counterfeiters are improving their technique.

Therefore, taking into account the fragility to handle the current bank notes there is a need to replace them.

He assured that the law passed by the National Assembly (Parliament) has only come to propose the changing of the current notes for others of equal and higher face value, but with safer features and with a new graphic design.

On the issuing of the higher denomination of AKz 5,000 and 10,000, the governor of National Reserve Bank of Angola (BNA), José de Lima Massano said, while speaking to the MPs of National Assembly, the country would only do so should the conditions of economic development demanded.

On June 26, this year, the National Assembly authorized the National Bank to issue and put into circulation the notes of five, ten, 50, 200, 500, 1,000, 2,000, 5,000 and 10,000 Kwanza.

The coins include those of  five and two kwanzas as well as 50 and ten cents.