Angolan Escudo
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The escudo was the currency of
Angola , national_anthem = " Angola Avante"() , image_map = , map_caption = , capital = Luanda , religion = , religion_year = 2020 , religion_ref = , coordina ...
between 1914 and 1928 and again between 1958 and 1977. It was subdivided into 100 ''centavos'' with the ''macuta'' worth 5 centavos and was equivalent to the
Portuguese escudo The Portuguese escudo was the currency of Portugal from May 22nd 1911 until the introduction of the euro on January 1st 2002. The escudo was subdivided into 100 . The word derives from the scutum shield. Amounts in escudos were written as w ...
.


History

The introduction of the escudo in
Portugal Portugal, officially the Portuguese Republic ( pt, República Portuguesa, links=yes ), is a country whose mainland is located on the Iberian Peninsula of Southwestern Europe, and whose territory also includes the Atlantic archipelagos of ...
's colonies took place in 1914, three years after it occurred in Portugal. The escudo replaced the ''
real Real may refer to: Currencies * Brazilian real (R$) * Central American Republic real * Mexican real * Portuguese real * Spanish real * Spanish colonial real Music Albums * ''Real'' (L'Arc-en-Ciel album) (2000) * ''Real'' (Bright album) (2010) ...
'' at a rate of 1000 réis = 1 escudo. In 1928, the ''
angolar Angolar Creole ( aoa, n'golá) is a minority Portuguese-based creole language of São Tomé and Príncipe, spoken in the southernmost towns of São Tomé Island and sparsely along the coast, especially by Angolar people. It is also called '' ...
'' was introduced. Banknotes were exchanged at a rate of 1.25 escudos = 1 angolar, whilst centavo coins used with the escudo continued to be used with the angolar with no change in value. The angolar was pegged at parity with the Portuguese escudo, as the Angolan escudo had been before 1928. Thus, the currency reform constituted a devaluation of the escudo banknotes. In 1953, Portugal began unifying the currencies of its colonies. This process was completed in Angola at the end of 1958, with the reintroduction of the escudo. The escudo was replaced in 1977 by the ''
kwanza The kwanza (sign: Kz; ISO 4217 code: ) is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977. The currency derives its name from the Kwanza River (Cuanza, Coanza, Quanza). Overview First kwanza ...
'' at par.


Coins

In 1921, bronze 1, 2 and 5 centavo and cupro-nickel 10 and 20 centavo coins were introduced, followed the next year by nickel 50 centavos. In 1927, cupro-nickel 1, 2 and 4 macuta and 50 centavo coins were introduced. These coins continued to circulate when the angolar was introduced, with bronze 10 and 20 centavo coins introduced in 1948. In 1952, the first escudo coins were introduced, although the escudo did not officially replace the angolar until the end of 1958. Silver 10 and 20 escudos were introduced in 1952, followed by bronze 50 centavos and 1 escudo, and cupro-nickel escudos in 1953. Cupro-nickel replaced silver in the 10 escudos in 1969, with nickel replacing silver in the 20 escudos in 1971. Cupro-nickel 5 escudos were introduced in 1972.


Banknotes

In 1914, the ''
Banco Nacional Ultramarino Banco Nacional Ultramarino (, BNU; ; en, National Overseas Bank) is a Macau banking and financial services corporation. It was a Portuguese bank with operations throughout the world, especially in Portugal's former overseas provinces. It ceased e ...
'' introduced notes in denominations of 10, 20 and 50 centavos. 5 centavo notes followed in 1918, with 50 escudos introduced in 1920. In 1921, 1, , 5, 10, 20 and 100 escudo notes were added. State notes for 50 centavos were also introduced in 1921. In 1958, notes (dated 1956) were introduced by the '' Banco de Angola'' in denominations of 20, 50, 100, 500 and 1000 escudos. These five denominations were issued until the introduction of the kwanza.


References

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External links

{{Escudo
Escudo The escudo ( Portuguese: 'shield') is a unit of currency historically used in Portugal and its colonies in South America, Asia, and Africa. It was originally worth 16 silver . The Cape Verdean escudo and the former Portuguese escudo (PTE), eac ...
Currencies of Portugal Modern obsolete currencies Economic history of Portugal 1914 establishments in Angola 1977 disestablishments 20th-century establishments in Angola 20th-century disestablishments in Angola Escudo