Zambian pound
Encyclopedia
The pound was the currency in Zambia
from independence in 1964 until decimalization on January 16, 1968. It was subdivided into 20 shilling
s, each of 12 pence
.
at par. It was pegged to the British pound at par and was replaced by the kwacha
at a rate of 2 kwacha = 1 pound or 1 kwacha = 10 shillings.
introduced notes in denominations of 10 shillings, 1 and 5 pounds.
Zambia
Zambia , officially the Republic of Zambia, is a landlocked country in Southern Africa. The neighbouring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west....
from independence in 1964 until decimalization on January 16, 1968. It was subdivided into 20 shilling
Shilling
The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...
s, each of 12 pence
Penny
A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...
.
History
The Zambian pound replaced the Rhodesia and Nyasaland poundRhodesia and Nyasaland pound
The pound was the currency of the Federation of Rhodesia and Nyasaland. It was subdivided into 20 shillings, each of 12 pence.-History:...
at par. It was pegged to the British pound at par and was replaced by the kwacha
Zambian kwacha
The kwacha is the currency of Zambia. It is subdivided into 100 ngwee.-Etymology:The name derives from the Nyanja and Bemba word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom"...
at a rate of 2 kwacha = 1 pound or 1 kwacha = 10 shillings.
Coins
In 1964, cupro-nickel 6 pence, 1 and 2 shilling coins were introduced, followed by holed, bronze 1 penny coins in 1966.Banknotes
In 1964, the Bank of ZambiaBank of Zambia
The Bank of Zambia is the central bank of Zambia. According to its website, the principal responsibility of the bank is to create and implement monetary policy that will maintain the economic stability of the country.The bank's offices are located in Lusaka....
introduced notes in denominations of 10 shillings, 1 and 5 pounds.