Zambian kwacha
From Wikipedia, the free encyclopedia
| Zambian kwacha | |||
|
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| ISO 4217 Code | ZMK | ||
|---|---|---|---|
| User(s) | Zambia | ||
| Inflation | 8.8% | ||
| Source | The World Factbook, 2006 est. | ||
| Subunit | |||
| 1/100 | ngwee | ||
| Symbol | ZK | ||
| Coins | |||
| Rarely used | 25, 50 ngwee, 1, 5, 10 kwacha | ||
| Banknotes | 20, 50, 100, 500, 1000, 5000, 10 000, 20 000, 50 000 kwacha | ||
| Central bank | Bank of Zambia | ||
| Website | www.boz.zm | ||
The Zambian kwacha has been the official currency of Zambia since 1968. It replaced the Zambian pound at a rate of 2 kwacha = 1 pound. The kwacha (ISO 4217: ZMK) is divided into 100 ngwee.
The name derives from the Nyanja and Bemba word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom".
The name ngwee translates as "bright" in the Nyanja language.
In 2003 Zambia was the first African country to issue polymer banknotes. The K500 and K1000 are both printed on polymer.
Contents |
[edit] Coins
[edit] Old Coins
| 5 kwacha in 1992 | |
|---|---|
 |
|
| Coat of arms | Value |
½, 1, 2 ngwee - 1968 - bronze
5, 10, 20 ngwee - 1968 - copper nickel
50 ngwee - 1969 FAO - copper-nickel click for image
[edit] Current coins
25 and 50 ngwee. 1, 5, and 10 kwacha - 1992 click for image
Although these coins remain legal tender, their diminished value, due to inflation, means that they are seldom seen or used.
10 Kwacha = US $12.00 (1968) = ⅓ cent US (2006)
[edit] Banknotes
[edit] Old Banknotes
Older banknotes of :
- 50 ngwee (½ Kwacha) (1968-73) click for image;
- 1 kwacha (1968-80) click for obverse image click for reverse image;
- 2 kwacha (1968-88) click for obverse image click for reverse image;
- 5 kwacha (1973-89) click for obverse image click for reverse image; and
- 10 kwacha (1968-91) click for image
were replaced by coins.
[edit] Current Banknotes
- 20 kwacha (Fish eagle; kudu, building) click for image
- 50 kwacha (Fish eagle; zebra, foundry) click for image
- 100 kwacha (Fish eagle; buffalo, waterfalls) click for image
- 500 kwacha (Fish eagle; elephant, cotton) click for image
- 1,000 kwacha (Fish eagle; tractor) click for image
- 5,000 kwacha (Fish eagle; lion)
click for obverse image click for reverse image
- 10,000 kwacha (Fish eagle, hologram; porcupine) click for image
- 20,000 kwacha (Fish eagle, hologram; antelope) click for image
- 50,000 kwacha (Fish eagle, hologram; leopard) click for image
Although the 20 kwacha note is still in circulation, such is the rarity of this tender that most major retailers will round up prices to the nearest 50 kwacha when calculating a total. Most items in major supermarkets are displayed as using 20 kwacha in the value (e.g. 1,980 kwacha)
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| Use OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD |
[edit] See also
[edit] References
| Preceded by: Zambian pound Ratio: 2 kwacha = 1 pound |
Currency of Zambia 1968 – |
Succeeded by: Current |
