Zambian Kwacha Currency | Zambia | ZMW | ZK

Zambian Kwacha

Zambian Kwacha Currency:

Zambian Kwacha is the official currency of Zambia.  It is subdivided into 100 Ngwee.  The pre-independence Rhodesia and Nyasaland used pound as the legal tender of the British protectorate of Northern Rhodesia which was in existence for a short time. Central Africa Currency Board had earlier issued the banknotes of denominations of 10 shillings, 1, 5, 10 pounds Banknotes and the coins of ½, 1, 3, 6 pence and 1, 2, 21/2 and 5 shillings.

In 1964, after the Independence, the Bank of Zambia issued the first Zambian currency namely the Zambian pound. Except for the 10 pounds note, the issued paper bills and coins were of similar denominations as those used before independence. The bank of Zambia never issued 10 pounds note.  The Rhodesia and Nyasaland pound and the Zambian pound were allowed to circulate until December 15, 1965.  South Rhodesian pound bills and coins were introverted from circulation. For a brief period 3 pence coin was allowed to circulate.

The government approved the arrangements of the decimal currency system on July 1, 1966.  On January 16, 1968, Zambia pound bills and coins were replaced by the new Kwacha bills and ngwee coins.  k1, K2, k10 and k20 are the Kwacha banknotes and 1 ngwee, 2 ngwee, 5 ngwee, 10 ngwee, 20 ngwee and 50 ngwee coins are introduced. In 2003, Bank of Zambia introduced high value of denominations including 20,000 and 50,000 kwacha bills. New Kwacha bills and coins were introduced in 2013; namely 5, 10, 50ngwee and 1 Kwacha coins and k100, k50, k20, k10, k5 and K2 banknotes.

Zambian Kwacha

Zambian Kwacha (Zambia):

Code: ZMW

​Symbol: ZK

Subunit:       

1⁄100= ngwee

Banknotes:

2, 5, 10, 20, 50, 100 kwacha

Coins:

5, 10, 50 ngwee and 1 kwacha

Central bank:

Bank of Zambia

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