Web Trader MT5
You will find the Zambian kwacha abbreviated as ZMW. As the name indicates, ZMW refers to Zambia’s official currency. Issued by the Bank of Zambia, the Zambian kwacha is divided into 100 ngwee.
The name is derived from the word “dawn.” “A new dawn of freedom” is a nationalist phrase that presented Zambia’s independence from British rule in 1964 as the start of a new era. Four years later, in 1968, the kwacha replaced the Zambian pound, and the new name helped separate the country’s money from its colonial past.
If USD/ZMW rises from 25 to 27, one US dollar buys more kwacha, meaning the kwacha has weakened against the dollar.
