Banknotes were exchanged at a rate of 1.25 escudos = 1 angolar, whilst centavo coins used with the escudo continued to be used with the angolar with no change in value.

Thus, the currency reform constituted a devaluation of the escudo banknotes.

This process was completed in Angola at the end of 1958, with the reintroduction of the escudo.

In 1914, the Banco Nacional Ultramarino introduced notes in denominations of 10, 20 and 50 centavos.

In 1958, notes (dated 1956) were introduced by the Banco de Angola in denominations of 20, 50, 100, 500 and 1000 escudos.