Zambian pound
| Zambian pound | |
|---|---|
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1 pound
|
|
| Denominations | |
| Subunit | |
| 1/20 | shilling |
| 1/240 | penny |
| Symbol | £ |
| Banknotes | 10 shillings, £1, £5 |
| Coins | |
| Rarely used | 1, 6 pence, 1, 2 shillings |
| Demographics | |
| User(s) | Zambia |
| Issuance | |
| Central bank | Bank of Zambia |
| Website | www |
The pound was the currency in 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 to the pound sterling at par and was replaced by the kwacha at a rate of 2 kwacha = 1 pound or 1 kwacha = 10 shillings.
In 1964, cupro-nickel 6 pence, 1 and 2 shilling coins were introduced, followed by a 5 Shillings in 1965, and holed, bronze 1 penny coins in 1966.
In 1964, the Bank of Zambia introduced notes in denominations of 10 shillings, 1 and 5 pounds.
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