The pound was the currency of
Zambia
Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are t ...
from independence in 1964 until decimalization on January 16, 1968. It was subdivided into 20 ''
shilling
The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence ...
s'', each of 12 ''
pence
A penny is a coin ( pennies) or a unit of currency (pl. pence) in various countries. Borrowed from the Carolingian denarius (hence its former abbreviation d.), it is usually the smallest denomination within a currency system. Presently, it is t ...
''.
History
The Zambian pound replaced the
Rhodesia and Nyasaland pound at par. It was pegged 1:1 to
sterling and was replaced by the
kwacha at a rate of £1 = ZK2 or ZK1 = 10/–.
Coins
In 1964, cupro-nickel 6d, 1/– and 2/– coins were introduced, followed by a 5/– coin in 1965, and holed, bronze 1d coins in 1966.
Banknotes
In 1964, the
Bank of Zambia
The Bank of Zambia (BoZ), is the central bank of Zambia.
Overview
The principal responsibility of the bank is to create and implement monetary policy that will maintain the economic stability of the country. The Bank is active in promoting financ ...
introduced notes in denominations of 10/–, £1 and £5.
References
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External links
{{Pound (currency)
Currencies of Africa
Currencies of the Commonwealth of Nations
History of Zambia
Modern obsolete currencies
1964 establishments in Zambia
1968 disestablishments in Zambia
Currencies of Zambia
1960s economic history