Zambian Kwacha: Difference between revisions

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Zambian Kwacha (view source)

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{{Infobox currency
{{Infobox currency
| image_1 = File:Zambia P-54 O.jpg
<!--  Commented out because image was deleted: | image_1 = Zambia K1000.jpg -->
| image_title_1 = 100 Zambian Kwacha
| image_title_1 = 1000 Zambian kwacha
| iso_code = ZMW<br>ZMK ''until December 31, 2012''
| iso_code = ZMW
| using_countries = {{flag|Zambia}}
| using_countries = {{flag|Zambia}}
| inflation_rate = 10.1%
| inflation_rate = 8.7%
| inflation_source_date = ''[https://www.cia.gov/library/publications/resources/the-world-factbook/fields/2092.html#za The World Factbook]'', 2015 est.
| inflation_source_date = ''[https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook]'', 2011 est.
| inflation_method = [[consumer price index|CPI]]
| subunit_ratio_1 = 1/100
| subunit_ratio_1 = {{frac|100}}
| subunit_name_1 = ngwee
| subunit_name_1 = ngwee
| symbol = ZK
| symbol = ZMW
| frequently_used_banknotes = 2, 5, 10, 20, 50, 100 kwacha
| frequently_used_banknotes = 2, 5, 10, 20, 50, [[K 100]] kwacha
| frequently_used_coins = 5, 10, 50 ngwee and 1 kwacha
| frequently_used_coins = 5, 10, 50 ngwee and 1 kwacha
| issuing_authority = [[Bank of Zambia]]
| issuing_authority = [[Bank of Zambia]]
| issuing_authority_website = {{URL|www.boz.zm}}
| issuing_authority_website = {{URL|www.boz.zm}}
|printer = [[Giesecke & Devrient|G&D]]<br>[[Joh. Enschedé|Johan Enschede en Zonen]]
|printer_website = {{url|https://www.gi-de.com}}<br>{{url|http://www.joh-enschede.nl/}}
}}
}}


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5 kwacha notes were introduced in 1973, the same year that the last 50 ngwee notes were issued. 50 kwacha notes were introduced in 1986, with the 1 kwacha note being replaced by a coin in 1988. 100 and 500 kwacha notes were introduced in 1991, followed by 1000, 5000 and 10,000 kwacha in 1992, when the 5 and 10 kwacha notes were replaced by coins and the 2 kwacha discontinued. In 2003, 20,000 and 50,000 kwacha notes were introduced.
5 kwacha notes were introduced in 1973, the same year that the last 50 ngwee notes were issued. 50 kwacha notes were introduced in 1986, with the 1 kwacha note being replaced by a coin in 1988. 100 and 500 kwacha notes were introduced in 1991, followed by 1000, 5000 and 10,000 kwacha in 1992, when the 5 and 10 kwacha notes were replaced by coins and the 2 kwacha discontinued. In 2003, 20,000 and 50,000 kwacha notes were introduced.


{|class = "wikitable"
===First Kwacha (1968-2012)===
!Denomination!!Dates
====First issue (1968)====
|-
 
|50 ngwee||1968-1973
The first issue of the first kwacha was issued in 1968. The series comprised five banknotes of 50 ngwee, 1, 2, 10, and 20 kwacha. The obverse of the five banknotes featured a portrait of president [[Kenneth Kaunda]] in tribal outfit on the right, together with the [[Coat of Arms of Zambia]] on the left on the 50 ngwee banknote, or at upper center on the kwacha banknotes. The reverse showed different activity based themes reflecting life in Zambia. The banknotes were printed by [[De La Rue|Thomas De La Rue & Co. Limited]], and bore the signature of Dr Justin B. Zulu, Bank of Zambia's second governor. Apart from the 50 ngwee banknote, the kwacha banknotes had president Kenneth Kaunda as a watermark. [[Specimen banknote]]s were issued for each denomination, with the word SPECIMEN [[overprint]] in red [[Sans-serif|sans]] on both the obverse and reverse.
|-
 
|1 kwacha||1968-1988
{| class="wikitable"
|- style="background:#2E8B57;"
! Denomination
! [[Standard Catalog of World Paper Money|Pick]]
! Obverse
! Reverse
! F.I<sup>1</sup>
! L.I<sup>2</sup>
! Description
|-
|-
|2 kwacha||1968-1989
| Fifty Ngwee
| P-4
| [[File:Zambia P-4 O.jpg|250px]]
| [[File:Zambia P-4 R.jpg|250px]]
| 1968
| 1968
|<small>'''Obverse:''' Red-violet on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] on the left. A dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' [[Lechwe|Southern lechwe]] in the [[Kafue Flats]].</small><br>
<small>'''Watermark:''' None</small>
|-
|-
|5 kwacha||1973-1989
| One Kwacha
| P-5
| [[File:Zambia P-5 O.jpg|250px]]
| [[File:Zambia P-5 R.jpg|250px]]
| 1968
| 1968
| <small>'''Obverse:''' Dark brown on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] at upper center. A dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' Farmer plowing field with [[tractor]]. Another two farmers plowing the same field with four [[ox]]en.</small><br>
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|-
|-
|10 kwacha||1968-1991
| Two Kwacha
| P-6
| [[File:Zambia P-6 O.jpg|250px]]
| [[File:Zambia P-6 R.jpg|250px]]
| 1968
| 1968
| <small>'''Obverse:''' Green on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] at upper center. A dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' Copper mining facility. Mining tower at the center, and conveyor belt on the left.</small><br>
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|-
|-
|20 kwacha||1968-1992
| Ten Kwacha
| P-7
| [[File:Zambia P-7 O.jpg|250px]]
| [[File:Zambia P-7 R.jpg|250px]]
| 1968
| 1968
| <small>'''Obverse:''' Blue on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] at upper center. A dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' [[Victoria Falls]] on the [[Zambezi River]] at center.</small><br>
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|-
|-
|50 kwacha||1986-2013
| Twenty Kwacha
|-
| P-8
|100 kwacha||1991-2013
| [[File:Zambia P-8 O.jpg|250px]]
|-
| [[File:Zambia P-8 R.jpg|250px]]
|500 kwacha||1991-2013
| 1968
|-
| 1968
|1000 kwacha[[File:Zambia K1000.jpg|thumb|197x197px]]||1992-2013
| <small>'''Obverse:''' Purple on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] at upper center. A dot between the currency symbol and face value.</small><br>
|-
<small>'''Reverse:''' [[National Assembly (Zambia)|National Assembly]] building in [[Lusaka]] at center.</small><br>
|5000 kwacha||1992-2013
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|-
|10,000 kwacha||1992-2013
|-
|20,000 kwacha||2003-2013
|-
|50,000 kwacha||2003-2013
|}
|}
<small><sup>1</sup> ''First Issued,'' refers to the year of first issue of the actual banknote from the same emission.</small><br>
<small><sup>2</sup> ''Last Issued:'' refers to the year of last issue of the actual banknote from the same emission.</small>


Until 1991, all Zambian banknotes featured a portrait of President [[Kenneth Kaunda]] on the obverse. After 1992, all notes have instead featured a fish eagle on the obverse. After 1989, all the reverses featured the Chainbreaker statue. In 2003, Zambia became the first African country to issue polymer banknotes. The 500 and 1000 kwacha were both printed on polymer. Although the old 20 kwacha note was still in circulation until 2012, such is the rarity of this note that most major retailers rounded prices up to the nearest 50 kwacha when calculating a total. Most items in major supermarkets were displayed using 20 kwacha in the value (e.g., 1980 kwacha).
====Second emission (1969-1973)====
In 1969, a second emission of the Zambian kwacha was issued. Initially, the emission comprised the same five banknotes of the first emission, and all five denominations bore the signatures of Dr Justin B. Zulu, Mr Valentine S. Musakanya, and that of Mr Bitwell R. Kuwani, the second, third, and forth governors of the Bank of Zambia, respectively, except for the 50 ngwee bills that never existed with Dr Zulu's signature, as well as the 1 kwacha bills that never showed Mr Kuwani's signature. The second emission banknotes were exactly similar to these of the first emission, except for a slight difference, in which the dot (•) between the currency symbol and the face value was removed. The banknotes were printed by [[De La Rue|Thomas De La Rue & Co. Limited]], and [[specimen banknote]]s were issued for each denomination, with the word SPECIMEN [[overprint]] in red [[Sans-serif|sans]] on both the obverse and reverse.


'''Banknotes of the new kwacha (2013 series)'''<ref>http://www.boz.zm/Publishing/35/35_Feartures_New_Zambian_Currency.pdf</ref><ref>http://www.boz.zm/Publishing/35/35_KWACHA_NGWEE_Presentation_COMMERCIAL_BANKS.pdf</ref><ref>[http://banknotenews.com/files/ec7802f52b8560a9e870469610f99404-2436.php Zambia rebased kwacha notes confirmed] BanknoteNews.com. January 23, 2012. Retrieved on 2013-01-24.</ref>
{| class="wikitable"
 
|- style="background:#2E8B57;"
{|class = "wikitable"
! Denomination
!Denomination!!Dates
! [[Standard Catalog of World Paper Money|Pick]]
|-
! Obverse
|2 kwacha||2013-
! Reverse
! F.I<sup>1</sup>
! L.I<sup>2</sup>
! Description
|-
|-
|5 kwacha||2013-
| Fifty Ngwee
| P-9
| [[File:Zambia P-9 O.jpg|250px]]
| [[File:Zambia P-9 R.jpg|250px]]
| 1970
| 1972
|<small>'''Obverse:''' Red-violet on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] on the left. No dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' [[Lechwe|Southern lechwe]] in the [[Kafue Flats]].</small><br>
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|-
|-
|10 kwacha||2013-
| One Kwacha
| P-10
| [[File:Zambia P-10 O.jpg|250px]]
| [[File:Zambia P-10 R.jpg|250px]]
| 1969
| 1972
| <small>'''Obverse:''' Dark brown on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] at upper center. No dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' Farmer plowing field with [[tractor]]. Another two farmers plowing the same field with four [[ox]]en.</small><br>
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|-
|-
|20 kwacha||2013-
| Two Kwacha
| P-11
| [[File:Zambia P-11 O.jpg|250px]]
| [[File:Zambia P-11 R.jpg|250px]]
| 1969
| 1973
| <small>'''Obverse:''' Green on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] at upper center. No dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' Copper mining facility. Mining tower at the center, and conveyor belt on the left.</small><br>
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|-
|-
|50 kwacha||2013-
| Ten Kwacha
| P-12
| [[File:Zambia P-12 O.jpg|250px]]
| [[File:Zambia P-12 R.jpg|250px]]
| 1969
| 1973
| <small>'''Obverse:''' Blue on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] at upper center. No dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' [[Victoria Falls]] on the [[Zambezi River]] at center.</small><br>
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|-
|-
|100 kwacha||2013-
| Twenty Kwacha
| P-13
| [[File:Zambia P-13 O.jpg|250px]]
| [[File:Zambia P-13 R.jpg|250px]]
| 1969
| 1973
| <small>'''Obverse:''' Purple on multicolor [[underprint]]. A [[portrait]] of president [[Kenneth Kaunda]] in tribal outfit on the right. [[Coat of arms of Zambia|Coat of Arms]] at upper center. No dot between the currency symbol and face value.</small><br>
<small>'''Reverse:''' [[National Assembly (Zambia)|National Assembly]] building in [[Lusaka]] at center.</small><br>
<small>'''Watermark:''' President [[Kenneth Kaunda]]</small>
|}
|}
<small><sup>1</sup> ''First Issued,'' refers to the year of first issue of the actual banknote from the same emission.</small><br>
<small><sup>2</sup> ''Last Issued:'' refers to the year of last issue of the actual banknote from the same emission.</small>
During the second emission period, a [[Zambian kwacha#Commemorative banknotes|commemorative banknote of 1 kwacha]] was issued in celebration of the declaration of [[One-party state]] on December 13, 1972. The banknote was not a legal tender, and had a different frame design than the banknotes of both, the first and second issues.
Later on in 1973, the Bank of Zambia issued the 5 kwacha banknote for the first time. A red-violet on multicolour [[underprint]] design was chosen for the new bill note. The new design resulted in a lot of confusion between the existing 50 ngwee bill and the new 5 kwacha one. This urged the Bank of Zambia to adopt a new design for the 50 ngwee banknotes in 1973. A new black and lilac on multicolor underprint was used for easy recognition, nevertheless, this was the last issue of the 50 ngwee banknotes as it was replaced later by a coin. The two new banknotes bore the signature of Mr Bitwell R. Kuwani, and were printed by [[De La Rue|Thomas De La Rue & Co. Limited]]. [[Specimen banknote]]s were issued for both denominations, with the word SPECIMEN [[overprint]] in red [[Sans-serif|sans]] on both the obverse and reverse.


==See also==
==See also==
Icem4k
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