The Bank of Zambia (BoZ), the central bank of Zambia, is set to introduce new banknotes and coins in Zambia. The new currency family, which consists of six banknotes (K500, K200, K100, K50, K20 and K10) and six coins K5, K2, K1, 50N, 10N and 5N), will be launched on 31 March 2025. The alpha code for the Zambian kwacha (ZMW), the numeric code 967, the currency symbol K (K= kwacha; N = ngwee), and the value of the currency will not be altered. According to BoZ Governor Dr Denny Kalyalya, the design of the new currency draws inspiration from Zambia's rich heritage, featuring elements that celebrates the country's unique flora and fauna, and breathtaking waterfalls.
The existing banknotes and coins will remain legal tender until a period specified in an upcoming Statutory Instrument (SI), which will detail the procedures for exchanging old currency for the new series. The transition period to replace the current banknotes with new currency is expected to take over 12 month.
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