Zambian kwacha conversion

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Zambian kwacha

Worldwide use:

  • Zambia

Description:

The Kwacha is the currency of Zambia. In 2003, Zambia became the first African country to issue polymer banknotes. The currency coinage is issued in denominations of 5, 10 and 50 Ngwee and 1 Kwacha. Banknotes are issued in denominations of 2, 5, 10, 20, 50, 100, 500 and 1000 Kwacha.

On 1st January 2013 the new Zambian Kwacha was introduced at a rate of 1000 old Kwacha to 1 new Kwacha. Until 1991 all Kwacha banknotes featured the portrait of Kenneth Kaunda. Since 1992 all notes feature the African eagle fish.

Origin:

In 1968 the Zambian Kwacha, derived from the Nyanja and Bemba word for "dawn", replaced the Pound at a rate of 2 Kwacha to 1 Pound. The Kwacha was at first fixed at a rate of 1.2 Kwacha to 1 US Dollar. As a result of severe inflation in 2014 the rate was approximately 4,800 Kwacha to 1 US Dollar.

Component units:

  • ngwee (100)

Date introduced:

  • 1968

Central bank:

  • Bank of Zambia

Printer:

    Mint: