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US dollar to Angolan kwanza exchange rate
Find the best USD/AOA exchange rate for 01 Mar 2021.
Refreshing in: 60s | Tue, Mar 02, 04:18AM GMT
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Historical Rate chart of USD and AOA
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How can I get the best exchange rates between US dollar and the Angolan kwanza?
To get the best exchange rate between the US dollar and the Angolan kwanza, you should first find out what the mid-market exchange rate is. Once you know that, you can compare the exchange rate offered by various money-changing services, both online and in person.
Sometimes you may find that your local brick-and-mortar currency exchange offers a good rate for exchanging cash, while other times it may be better to convert the currency electronically and transfer your money via online money transfer services.
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|Bank notes:||5, 10, 50, 100, 500, 1000, 2000|
|Coins:||.10c, .50c, 1c, 2c, 5c, 20c, 50c, 100c|
Send money from USD to AOA
What affects exchange rates between the US dollar and the Angolan kwanza?
Various political and economic factors in the countries, and worldwide, can affect the exchange rate of the Angolan kwanza against the US dollar.
In early 2017, the Finance Minister of Angola, Archer Mangueira, said that the currency would have to be devalued “sooner or later” in order to “maintain the stability of foreign reserves”.
Although the currency is not going to be devalued immediately, it is bound to happen in the future in hopes that the devaluation will discourage imports and strengthen Angola’s economy.
Export revenues also have an effect on the demand for the Angolan kwanza. A decrease in export revenues, for example due to lower oil prices, pushes the exchange rate down.
Furthermore, since 2012 a law has been in place in Angola requiring foreign oil companies to pay their suppliers in kwanza, and thus limiting the supply of dollars in the economy. To deal with this problem, the Angolan government decided to put in place restrictions on foreign exchange trading with the kwanza.
International debt also plays a huge role in determining the exchange rate. Although Angola receives international support, its debt burden is increasing. The government has secured loans from various sources, including the World Bank and China, and plans to issue Eurobonds in return. Consequently, there is an increase in financing needs, and a rise in public debt leads to the depreciation of the kwanza.
Another factor affecting the exchange rate of the Angolan kwanza against the US dollar is the inflation rate. The inflation rate in Angola is currently 25.18 percent and averaged 36.97 percent from 2001 to 2017. The ideal inflation rate is often considered to be around 2 percent, meaning an inflation rate higher than that will devalue the currency.
How does the Angolan kwanza trade against the US dollar historically?
The USD/AOA exchange rate has experienced minor fluctuations since the first quarter of 2016, with the currency fluctuating between 165 and 167. The currency is pegged to the US dollar by the National Bank of Angola (BNA) for administrative reasons and is not vulnerable to the fluctuating forces of supply and demand. The current peg is set to 165.92 kwanza to 1 dollar.
Before the current peg system was implemented, the currency of Africa’s second-largest oil producer fell rapidly in September 2015 and continued a trend starting in mid-2014. This was largely due to the fall in oil prices, since oil is the country’s major source of income. In January 2016, the currency was further devalued by 13 percent.
The extreme devaluation had a huge impact on the economy as tens of thousands of Chinese workers left the country, hurting businesses and halting construction projects. Furthermore, the kwanza fell to a black-market rate of 600 per dollar, slashing the value of contracts that were originally signed at a much higher amount.
US Dollar to the Kwanza for the last 10 years
|Mar 2011||Mar 2012||Mar 2013||Mar 2014||Mar 2015||Mar 2016||Mar 2017||Mar 2018||Mar 2019||Feb 2020|
|1 USD =||93.0322 Inverse: 0.0107||94.9790 Inverse: 0.0105||95.9836 Inverse: 0.0104||97.6144 Inverse: 0.0102||106.4064 Inverse: 0.0094||158.8647 Inverse: 0.0063||165.9075 Inverse: 0.0060||214.8680 Inverse: 0.0047||314.1720 Inverse: 0.0032||492.6300 Inverse: 0.0020|
US Dollar to the Kwanza for the last 10 months
|Apr 2020||May 2020||Jul 2020||Aug 2020||Sep 2020||Oct 2020||Nov 2020||Dec 2020||Jan 2021||Feb 2021|
|1 USD =||557.3000 Inverse: 0.0018||580.4400 Inverse: 0.0017||584.4500 Inverse: 0.0017||552.9200 Inverse: 0.0018||605.2500 Inverse: 0.0017||630.5120 Inverse: 0.0016||665.6750 Inverse: 0.0015||655.3340 Inverse: 0.0015||654.1600 Inverse: 0.0015||648.8450 Inverse: 0.0015|
US Dollar to the Kwanza for the last 10 days
|Feb 20||Feb 21||Feb 22||Feb 23||Feb 24||Feb 25||Feb 26||Feb 27||Feb 28||Mar 01|
|1 USD =||652.4600 Inverse: 0.0015||652.4600 Inverse: 0.0015||651.7230 Inverse: 0.0015||648.0000 Inverse: 0.0015||649.8200 Inverse: 0.0015||649.8230 Inverse: 0.0015||649.8230 Inverse: 0.0015||649.8230 Inverse: 0.0015||635.9500 Inverse: 0.0016||629.9410 Inverse: 0.0016|
Market rate for common transfer amounts USD to AOA
|US Dollars (USD)||Angolan Kwanza (AOA)|
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