50 000 Kwanzas Reajustados

The kwanza reajustado was Angola's attempt to stabilize a currency that had collapsed under the weight of civil war and hyperinflation — introduced in 1995 at a conversion rate of 1,000 old kwanzas to one reajustado. It failed quickly. By 1999 a further redenomination was unavoidable, folding the reajustado into the new kwanza at yet another brutal ratio.

A watermark as the sole listed security feature reflects how little infrastructure existed for sophisticated currency production during this period. The UNITA conflict, still active in 1995, made normal banking distribution across the country functionally impossible.