the second devaluation occurred in 1995, when the aon was replaced by a new currency called the “kwanza reajustado”. the devaluation was carried out at a rate of 1,000 new currency units for every 1 aon, reflecting the level of severity of angola’s inflation crisis at that time. a third devaluation occurred in 1999, replacing the kwanza reajustado with the second kwanza (aoa), which is the currency that angola continues to use today.