ZAMBIA

(ZMK) Currency News >>

CURRENCY:

Kwacha - ZMK

DENOMINATIONS:

NOTE: ZMK50,000, 20,000, 10,000, 5,000, 1,000, 500, 100, 50 and 20.

COIN: ZMK10, 5 and 1, and 50 and 25 ngwee.

US DOLLAR ACCEPTED:

Yes

CREDIT/DEBIT CARDS AND ATMS:

The main credit cards are accepted at most hotels and larger establishments. There are ATM machines in larger towns.

CURRENCY EXCHANGE:

This is easiest done at banks and bureaux de change.

TRAVELLER'S CHEQUES:

These are widely accepted and are best in US dollars, Euros and Sterling.

BANKING HOURS:

Mon-Fri 0815-1430. These hours vary so do check in advance.

CURRENCY RESTRICTIONS:

Import and export of local currency is limited to USD 5000.

COUNTRY OVERVIEW:

The Republic of Zambia is located in Southern Africa. The largest proportion of the population lives in around the capital. The capital is Lusaka and the official language is English but there are many recognised regional languages.

POPULATION:

Around 11.5 million.

ECONOMY:

Once reliant on copper exports, Zambia fell into poverty in the 1970s when copper prices fell around the world. It was once a middle income country - now, a large proportion of Zambians live in poverty. The copper trade has picked up however, which has had a positive effect on foreign investment. The government is also working on diversifying the economy.