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Zambian Kwacha
The Kwacha (ISO 4217 code: ZMW) is the currency of Zambia. It is subdivided into 100 ''Ngwee''. Etymology The name ''kwacha'' derives from the Nyanja, Bemba, and Tonga language word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom". The name ''ngwee'' translates as "bright" in the Nyanja language. History Prior to independence in 1964, the Rhodesia and Nyasaland pound was the legal tender of the short-lived British protectorate of Northern Rhodesia. Banknotes of 10 shillings, 1, 5, and 10 pounds issued by the Central Africa Currency Board were in circulation, together with coins of , 1, 3, 6 pence, and 1, 2, , and 5 shillings. After independence, the Bank of Zambia issued the first Zambian currency, the Zambian pound, in 1964. The issued paper bills and coins were of similar denominations as these used before independence, except for the 10 pounds note, which was never issued by the Bank of Zambia. A new design to depict the newly independen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Zambia K100 Note
The one hundred kwacha note of Zambia is a Denomination (currency), denomination of the Zambian kwacha, Zambian currency. The current paper note, first issued in 2013 features the Freedom Statue in Lusaka, the issuing authority of legal tenders in Zambia, in the middle there is the National Assembly (Zambia), National Assembly, the face value of the banknote in words in the lower left corner, and in numerals in the other three corners and the new printer imprint Giesecke & Devrient at the lower right corner, there is also a African Buffalo, Buffalo on the reverse. The obverse features the African fish eagle which is considered as the primary recognition of the Zambian banknote, together with the Coat of arms of Zambia, coat of arms, the signature of the Bank of Zambia Governor and obligation to pay the sum indicated on the banknote, and the face value of the specified banknote and the Baobab Tree. It is the highest denomination of banknote issued by the Bank of Zambia since January, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an interbank exchange rate of 114 Japanese yen to the United States dollar means that ¥114 will be exchanged for or that will be exchanged for ¥114. In this case it is said that the price of a dollar in relation to yen is ¥114, or equivalently that the price of a yen in relation to dollars is $1/114. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can also have a strong or weak currency. There is no agreement in the econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coat Of Arms Of Zambia
The coat of arms of Zambia was adopted on 24 October 1964 when the Republic of Zambia reached its independence. This coat of arms is adapted from the arms of the British protectorate of Northern Rhodesia which dated to 1927, with the wavy black and white vertical lines as the field and the eagle (then holding a fish) in the chief. The African fish eagle represents the conquest of freedom and nation's hope for the future. The hoe and pickaxe represent the country's economic backbone: agriculture and mining, as well as the characteristics that have influenced Zambia's evolution and nature. The shield is a representation of Victoria Falls with white water cascading over black rock. The Victoria Falls represents the Zambezi river, from which Zambia takes its name. The coat of arms also has emblems of Zambia's natural resources: minerals and mining, agriculture and wildlife. The shield is supported by two figures which represent the common man and woman of the nation. The country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edgar Lungu
Edgar Chagwa Lungu (born 11 November 1956) is a Zambian politician who served as the sixth president of Zambia from 25 January 2015 to 24 August 2021. Under President Michael Sata, Lungu served as Minister of Justice and Minister of Defence. Following Sata's death in October 2014, Lungu was adopted as the candidate of the Patriotic Front in a Convention of the Patriotic Front in Kabwe, for the January 2015 presidential by-election, which was to determine who would serve out the remainder of Sata's term. In the election, he narrowly defeated opposition candidate Hakainde Hichilema and took office on 25 January 2015. Lungu was elected to a full presidential term in the August 2016 election, again narrowly defeating Hichilema. Hichilema initially disputed the election result and filed a case at the Constitutional Court to nullify the result. On 5 September, however, the court dismissed the case. Lungu was sworn in for his first full term on 13 September 2016. In 2021, Lungu wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2021 Zambian General Election
General elections were held in Zambia on 12 August 2021 to elect the President, National Assembly, mayors, council chairs and councillors. Hakainde Hichilema of the United Party for National Development was elected president, defeating incumbent Edgar Lungu of the Patriotic Front. On 16 August, Lungu conceded in a televised statement, sending a letter and congratulating Hichilema. Electoral system The President is elected via the two-round system. Of the 167 members of the National Assembly, 156 are elected by the first-past-the-post system in single-member constituencies, with a further eight appointed by the President and three others being ''ex-officio'' members: the Vice President, the Speaker and a deputy speaker elected from outside the National Assembly (a second deputy speaker is chosen from among the elected members). The minimum voting age is 18, whilst National Assembly candidates must be at least 21. Candidates A total of sixteen candidates registered to run for th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redenomination
In monetary economics, redenomination is the process of changing the face value of banknotes and coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation. Redenomination itself is considered symbolic as it does not have any impact on a country's exchange rate in relation to other currencies. It may, however, have a psychological impact on the population by suggesting that a period of hyperinflation is over, and is not a reminder of how much inflation has impacted them. The reduction in the number of zeros also improves the image of the country abroad. Inflation over time is the main cause for the purchasing power of the monetary un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Floating Exchange Rate
In macroeconomics and economic policy, a floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to foreign exchange market events. A currency that uses a floating exchange rate is known as a ''floating currency'', in contrast to a ''fixed currency'', the value of which is instead specified in terms of material goods, another currency, or a set of currencies (the idea of the last being to reduce currency fluctuations). In the modern world, most of the world's currencies are floating, and include the most widely traded currencies: the United States dollar, the euro, the Swiss franc, the Indian rupee, the pound sterling, the Japanese yen, and the Australian dollar. However, even with floating currencies, central banks often participate in markets to attempt to influence the value of floating exchange rates. The Canadian dollar most closely resembles a pure f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sterling Area
The sterling area (or sterling bloc, legally scheduled territories) was a group of countries that either pegged their currencies to sterling, or actually used sterling as their own currency. The area began to appear informally during the early 1930s, after sterling had left the gold standard in 1931, with the result that a number of currencies of countries that historically had performed a large amount of their trade in sterling were pegged to sterling instead of to gold. A large number of these countries were part of the British Empire; however, a significant minority were not. Early in the Second World War, emergency legislation united the sterling bloc countries and territories (except Hong Kong) of the British Empire in a single exchange control area to protect the external value of sterling, among other aims. Canada and Newfoundland were already linked to the US dollar and did not join the sterling bloc. The Bank of England in London guided co-ordination of monetar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anthony Barber
Anthony Perrinott Lysberg Barber, Baron Barber, (4 July 1920 – 16 December 2005) was a British Conservative politician who served as Chancellor of the Exchequer from 1970 to 1974. After serving in both the Territorial Army and the Royal Air Force during the Second World War, Barber studied at Oxford and became a barrister. Elected as MP for Doncaster in 1951, Barber served in government under Harold Macmillan as Economic Secretary to the Treasury and Financial Secretary to the Treasury, before being appointed Minister of Health by Alec Douglas-Home in 1963. After losing his seat in 1964, he won the 1965 by-election in Altrincham and Sale and returned to Parliament. Barber was appointed as Chancellor of the Exchequer by Edward Heath in 1970, and oversaw a major liberalisation of the banking system, replaced purchase tax and Selective Employment Tax with Value Added Tax, and also relaxed exchange controls. During his term the economy suffered due to stagflation and ind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor Of The Exchequer
The chancellor of the Exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and head of His Majesty's Treasury. As one of the four Great Offices of State, the Chancellor is a high-ranking member of the British Cabinet. Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always Second Lord of the Treasury as one of at least six lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and Chancellor of the Exchequer was Stanley Baldwin in 1923. Formerly, in cases when the chancellorship was vacant, the L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became the world's leading financ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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