Banknotes were exchanged at a rate of 1 angolar = 1.25 escudos.
However, the exchange rate with the Portuguese escudo remained at par, indicating that the earlier Angolan banknotes were devalued as part of the reform, rather than the angolar actually having a new, higher value.
Coins (all denominated in centavos and macutas) were unaffected by the reform.
In 1928, the Junta de Moeda introduced notes (dated 1926) in denominations of 1, 2+1⁄2, 5 and 10 angolares, whilst the Bank of Angola introduced 20, 50, 100 and 500 angolar notes dated 1927.
In 1942, the Governo Geral took over the issuance of 1 and 2+1⁄2 angolar notes.