A confusion of currencies. (African currencies)(Editorial)

African Business | February 1, 1997| | Copyright

Take a look at the currency table on page four and prepare to be amazed. The current conversion rate for Angola's new kwanza is 352,736 against one pound sterling! Three hundred and fifty thousand new kwanza against one pound! The zaire is not far behind - 254,314.20 against one pound. Anyone would be forgiven for thinking these were telephone numbers instead of currency conversion rates. Of what use are these currencies?

Mind you, in both cases, the current rates are an improvement from the recent past when the new kwanza scaled the dizzying heights of half a million ...

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