Zambian pound

Zambian pound

£1 note
Unit
Symbol	£‎
Denominations
Subunit
1⁄20	shilling (s or /–)
1⁄240	penny (d)
Banknotes	10/–, £1, £5
Coins
Rarely used	1d, 6d, 1/–, 2/–
Demographics
User(s)	Zambia
Issuance
Central bank	Bank of Zambia
Website	www.boz.zm

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.

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/–.

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.

In 1964, the Bank of Zambia introduced notes in denominations of 10/–, £1 and £5.