Zambian Kwacha in West African Franc

ZMW Zambian Kwacha

Country of application:
Zambia

Coin denominations in circulation:
5, 10, 50 ngwe and 1 kwacha.

Denominations of banknotes in circulation:
2, 5, 10, 20, 50, 100 kwacha.

History reference:
The Zambian kwacha is the currency of the Republic of Zambia. 1 kwacha is made up of 100 ngwee. The kwacha has been the currency of Zambia since 1968, when it replaced the Zambian pound (exchange rat...e: 1 pound = 2 kwacha). Kwacha means "freedom" in one of the local dialects. On January 1, 2013, the kwacha was denominated with a change in its codes in the ISO 4217 standard: new letter code - ZMW (old - ZMK)

XOF West African Franc

Country of application:
Benin, Burkina Faso, Cote dIvoire, Guinea-Bissau, Mali, Niger, Senegal, Togo

Coin denominations in circulation:
1, 5, 10, 25, 50, 100, 200, 250, 500 CFA francs.

Denominations of banknotes in circulation:
500, 1000, 2000, 5000, 10,000 CFA francs.

History reference:
The CFA franc was introduced as the single currency of the French territories of West and Central Africa on December 26, 1945. By this time, the Franc Zone (an alliance created on the basis of former... French colonies) existed for about four years and was considered a voluntary association of participating countries. At first, the common currency was the French franc, but after the adoption of a decree in 1945, the CFA franc was introduced into circulation. The currency ratio was as follows: 1 CFA franc = 1.70 French francs. On November 20, 1963, Togo officially joined the Monetary Union. Mauritania leaves the Monetary Union in 1973. In the middle of 1984, Mali returned to the union. On January 10, 1994, after lengthy meetings, an agreement was reached in Dakar on the transformation of the West African Monetary Union into the West African Economic and Monetary Union, to which, on May 2, 1997, the Republic of Guinea-Bissau joined, replacing the significantly depreciated peso in circulation on its territory Guinea-Bissau to CFA franc BCEAO.