The Zambian Kwacha is the official currency of Zambia, a landlocked country in Southern Africa. Introduced in 1968, it is represented by the currency code ZMW and the symbol "K". The word "kwacha" is a Bemba term, one of Zambia's major indigenous languages, which means "dawn" or "sunrise", signifying a new beginning for the nation's economy at the time of its establishment.
The Zambian Kwacha is subdivided into 100 ngwee, although these smaller denominations are rarely used today. Currency notes are available in denominations of 2, 5, 10, 20, 50, 100, and 200 Kwacha, while coins, which are less frequently used, are available in the denominations of 5, 10, 50 ngwee, and 1 Kwacha.
Since its introduction, the value of the Zambian Kwacha has fluctuated against major international currencies due to various factors, including economic conditions, inflation rates, and external influences. The Bank of Zambia, the country's central bank, is responsible for the issuance and management of the currency to maintain stability and control over monetary policies.
The Zambian Kwacha is primarily used for domestic transactions within the country, although it is not widely accepted outside of Zambia. Travelers to Zambia often exchange their currency for the local Kwacha upon arrival or use internationally accepted currencies, such as the US Dollar, for transactions in tourist areas.
