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2014-12-01

Notice No. 08/2014 of December 1, 2014 on Monetary Circulation - New Kwanza Family

The National Bank of Angola issued Notice No. 08/2014 to mandate the withdrawal of the 1999 Kwanza banknote series and replace it with the 2012 series. The 1999 series will cease to have legal tender status on January 1, 2015, after which holders may deposit them into commercial bank accounts until June 30, 2015. Between July 1, 2015, and December 31, 2019, the National Bank of Angola and authorized commercial banks will exchange the withdrawn notes free of charge at their headquarters, regional delegations, and designated branches.

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Published in the Official Gazette, First Series, No. 213, of December 1 NOTICE NO. 08/2014 SUBJECT: MONETARY CIRCULATION

  • New Kwanza Family Law No. 12/99 of November 12 and Law No. 30/03 of December 30 authorized the National Bank of Angola to issue and put into circulation the banknotes with a face value of Kz 1, 5, 10, 50, 100, 200, 500, 1,000 and 2,000, and coins with a face value of 1, 2, 5, 10 and 50 Cêntimos; However, taking into account the level of confidence that the national currency must provide, it became necessary to strengthen and improve the security features of the aforementioned banknotes and coins, and Law No. 20/12 of July 30 was approved, which authorized the National Bank of Angola to issue and put into circulation a new Series of banknotes and coins of the Kwanza standard, designated “Series 2012”; In the context of the entry into circulation of the aforementioned banknotes and metallic coins of the “Series 2012”, it becomes necessary to withdraw from circulation the banknotes of the “Series 1999”; In the exercise of the competence conferred upon me by the combined provisions of the Articles 10(1) and 51, both of Law No. 16/10 of July 15 – Law of the National Bank of Angola;

CONTINUATION OF NOTICE NO. 08/2014 Page 2 of 3 I HEREBY DETERMINE: Article 1. (Object)

  1. This Notice aims to establish the period from which the banknotes and coins of the “Series 1999” will cease to remain in circulation;
  2. For the purposes of the preceding paragraph, the banknotes and metallic coins of the “Series 1999” shall only remain in circulation, together with the banknotes and metallic coins of the “Series 2012”, until December 31 of

Article 2. (Cessation of Legal Tender)

  1. From January 1, 2015, the banknotes and metallic coins of the “Series 1999” cease to have legal tender and discharge power, thus ending the obligation to accept them as a means of payment or settlement of any pecuniary obligations, and shall be withdrawn from circulation;
  2. From January 1 to June 30, 2015, the “1999” banknotes may be deposited into bank accounts at any commercial bank, losing their legal tender status at the end of this period. Article 3. (Replacement Period for Banknotes) From July 1, 2015 to December 31, 2019, the banknotes of the “Series 1999” will be accepted for exchange at the Headquarters and Regional Delegations of the National Bank of Angola, or at the network of commercial banks that may be authorized, for this purpose, by the National Bank of Angola.

CONTINUATION OF NOTICE NO. 08/2014 Page 3 of 3 Article 4. (Gratuity) The exchange operations for banknotes and coins referred to in this Notice shall be free of charge. Article 5. (Entry into Force) This Notice enters into force immediately. PUBLISHED. Luanda, December 4, 2014. THE GOVERNOR JOSÉ DE LIMA MASSANO

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