Zambian pound facts for kids

Quick facts for kids Zambian pound
£1 note
User(s)	Zambia
Subunit
1⁄20	shilling (s or /–)
1⁄240	penny (d)
Symbol	£
Coins
Rarely used	1d, 6d, 1/–, 2/–
Banknotes	10/–, £1, £5

The pound was the currency of Zambia from independence in 1964 until decimalization on January 16, 1968. It was subdivided into 20 shillings, each of 12 pence.

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 introduced notes in denominations of 10/–, £1 and £5.