ZMW / ZAR

The Zambian kwacha is the official legal tender of Zambia, introduced in 1968 to replace the Zambian pound at a rate of two kwacha to one pound. Issued by the Bank of Zambia, it is subdivided into 100 ngwee, although ngwee coins are rarely used in everyday transactions due to inflation.

The name “kwacha” means “dawn” in several of Zambia’s major Bantu languages, symbolising the country’s hope for a new beginning after independence. The currency is denoted by the symbol ZK and circulates alongside banknotes ranging from 10 to 200 kwacha. Zambia’s economy is heavily dependent on copper mining, and fluctuations in copper prices have historically impacted the kwacha’s exchange rate.