DEFINITION of 'ZMK (Zambian Kwacha)'

The currency abbreviation for the Zambian kwacha (ZMK), the currency for Zambia. The Zambian kwacha is made up of 100 ngwee and is often presented with the symbol ZK. The name kwacha is based on the word "dawn" in the Nyanja language.

BREAKING DOWN 'ZMK (Zambian Kwacha)'

Until 1968, the British pound was the currency of Zambia, after which the kwacha replaced the pound at a rate of 2 kwacha to 1 pound. At this time, the kwacha was equal to US$1.20, but rampant inflation since that time has significantly devalued the currency.

RELATED TERMS
  1. Currency Symbol

    A graphical symbol used as a substitute for the actual name of ...
  2. NZD

    In the currency market, this is the abbreviation for the New ...
  3. JPY

    The currency abbreviation or the currency symbol for the Japanese ...
  4. SGD

    In currencies, this is the abbreviation for the Singapore Dollar.
  5. JPY (Japanese Yen)

    The currency abbreviation or the currency symbol for the Japanese ...
  6. KRW

    The currency abbreviation or currency symbol for the Korean won ...
Related Articles
  1. Trading

    The Origins Of Common Currency Symbols

    Check out some of the world's most heavily traded currencies and their origins.
  2. Trading

    On This Day In Finance: July 6 - The United States Adopts The Dollar

    The U.S. adopts the dollar as a monetary unit.
  3. Trading

    The Effects Of Currency Fluctuations On The Economy

    Currency fluctuations are a natural outcome of the floating exchange rate system that is the norm for most major economies.
  4. Investing

    Languages That Give You The Best Chance To Broaden Your Career

    Being bilingual or trilingual can be a great career booster. Here are the languages that will help you get ahead in the business world.
  5. Investing

    4 Reasons Currency Hedging is Important

    Learn how currency hedging can help reduce exchange rate risk for a portfolio of foreign stocks. Consider the cost of hedging and its potential benefits.
  6. Trading

    The 6 Most-Traded Currencies And Why They're So Popular

    Regardless of the reason, forex is an integral part of 21st century finance. And the more widely used and reliable the currency, the greater the likelihood of people buying and selling it every ...
  7. Investing

    What Is A Currency War And How Does It Work?

    We look at what a currency war is, what factors may lead to it, the impacts of such a strategy, and whether there is a currency war currently.
  8. Trading

    Understanding The 2010 Options Symbology

    There is a wealth of information in the expanded option symbols, but they should make things easier for traders.
RELATED FAQS
  1. What are key economic factors that can cause currency depreciation in a country?

    Read about the causes of currency devaluation, and find out how to differentiate between relative and absolute currency devaluation. Read Answer >>
  2. How can I trade in cross currency pairs if my forex account is denominated in U.S. ...

    The forex market allows individuals to trade on nearly all of the currencies in the world. However, most of the trading is ... Read Answer >>
  3. Why isn't the EUR/USD currency pair quoted as USD/EUR?

    In a currency pair, the first currency is called the base currency and the second is the quote currency, a longtime convention ... Read Answer >>
  4. Is there a world currency? If so, what is it?

    There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has ... Read Answer >>
Hot Definitions
  1. Cryptocurrency

    A digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of ...
  2. Financial Industry Regulatory Authority - FINRA

    A regulatory body created after the merger of the National Association of Securities Dealers and the New York Stock Exchange's ...
  3. Initial Public Offering - IPO

    The first sale of stock by a private company to the public. IPOs are often issued by companies seeking the capital to expand ...
  4. Cost of Goods Sold - COGS

    Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company.
  5. Profit and Loss Statement (P&L)

    A financial statement that summarizes the revenues, costs and expenses incurred during a specified period of time, usually ...
  6. Monte Carlo Simulation

    Monte Carlo simulations are used to model the probability of different outcomes in a process that cannot easily be predicted ...
Trading Center