The
Zambian currency is known as the Zambian Kwacha (ZMK). The currency
was introduced in 1968 to replace the pound which had been used
since independence in 1964 and was adopted from the Rhodesia and
Nyasaland pound used during the colonial period here. One Kwacha
is equal to 100 Ngwee.
Denominations: coins exist for 25 and 50 Ngwee and 1, 5 and
10 Kwacha. Notes exist for 20, 50, 100, 500, 1000, 5000, 10000,
20000 and 50000 Kwacha.
Exchange Rates:
A number of banks in major towns in the country offer foreign
exchange services for the Kwacha against major world currencies.
There are also a number of foreign exchange bureaus, many in
Lusaka and also at the international airport here.
At the time
of writing (July 2006); One $US was equal to 3350 ZMK, One
British Pound was equal to 6173.43 ZMK and One Euro was equal
to 4280.78
ZMK.
