Timeline

• 08.09.1891
• Ordinance [No. 3] on the adoption of coinage, weights and measures of the Cape Colony to the Mashonaland protectorate of the British South Africa Company (BSAC); effective immediately.
  - 08.02.1894: Ordinance [No. 6], extended the scope of applicability of the 1891 ordinance to all other BSAC possessions in Northern and Southern Zambezia (Rhodesia) and British Central Africa (Nyasaland); effective immediately.
• 18.11.1938
• Law [Southern Rhodesia Coinage and Currency Act, No. 32] on the creation of a common currency for Southern Rhodesia, Northern Rhodesia, and Nyasaland under the South Rhodesian Currency Board; effective upon constitution of the board on 03.01.1939
• ??.??.1954
• Law [Rhodesia and Nyasaland Coinage and Currency Act, No. 5] on the creation of a common currency for the Central African Federation of Rhodesia and Nyasaland under the Central African Currency Board; effective upon constitution of the board on 12.03.1954
• 02.03.1956
• Law [Bank of Rhodesia and Nyasaland Act, No. 2] on the transformation of the currency board into the central bank; effective upon constitution of the bank on 01.04.1956

Timeline

• ??.07.1964
• Government resolution on the nationalization of the Bank of Rhodesia and Nyasaland as "Bank of Northern Rhodesia" (renamed into "Bank of Zambia" on 24.10.1964) and the creation of a national currency; effective upon constitution of the bank on 07.08.1964.
  - ??.06.1965: Law [Bank of Zambia Act], legislated the 1964 resolution; effective 07.08.1964 (retroactive)
• 07.08.1964
• Start of currency exchange:
  - 07.08.1964: Start of issuance of the new banknotes
  - 16.11.1964: Start of issuance of the new subsidiary coins
  - 15.12.1965: Demonetization of the Central African and Southern Rhodesian currencies.

Valuation Regimes

• 1964-1967
• Fixed rate against British Pound
• 1967-1968
• Fixed rate against US Dollar

Timeline

• 01.07.1966
• Law [Decimal Currency (Arrangements) Act, cap. 362] on the currency reform and decimalization; effective 16.01.1968
• 16.01.1968
• Start of currency exchange:
  - 16.01.1968: Start of issuance of the new banknotes and coins
  - ??.??.????: Demonetization of the former currency.
• 22.07.1989
• Exchange of banknotes with partial confiscation:
  - Per person, a maximum of 10'000 Kwacha was exchanged at par. On excess amounts, a 50% "exchange tax" was imposed.
  - 03.08.1989: end of exchange period and invalidation of the old paper money.

Valuation Regimes

• 1968-1976
• Fixed rate against US Dollar
• 1976-1983
• Fixed rate against IMF Special Drawing Rights (SDR) unit
• 1983-
• Variable rate; intermittent return to fixed rates against US Dollar (1987-1988) and SDR (1988-1989), respectively.

Timeline

• 03.12.2012
• Law [Re-denomination of Currency Act, Nr. 8] on the currency reform (legislating a government resolution of 23.01.2012); effective 30.12.2012
• 02.01.2013
• Start of currency exchange:
  - 02.01.2013: Start of issuance of the new banknotes and coins
  - 30.06.2013: Demonetization of the former currency.

Valuation Regimes

• 2013-
• Variable rate