Converting from Zambian Kwacha (ZMK) to Mozambican metical (MZN)

What is Zambian Kwacha (ZMK)

The Zambian Kwacha (ZMK) is the currency of Zambia, a country located in Southern Africa. The name "kwacha" derives from a local term meaning "it has dawned," symbolizing a new beginning. The currency was introduced in 1968, replacing the Zambian pound at a rate of 2 kwacha for every pound.

The ZMK has undergone several changes over the years, particularly due to inflation, which has prompted revaluation of the currency. In 2013, a new version of the kwacha was introduced, removing three zeros from the old currency. This means 1 new kwacha (ZMW) is equal to 1,000 old kwacha (ZMK).

The Zambian Kwacha is subdivided into 100 ngwee, which is the smallest unit of currency. Coins are available in denominations of 1, 5, 10, 50 ngwee, and 1, 2, 5 kwacha, while banknotes come in 2, 5, 10, 20, 50, 100, and 200 kwacha. The kwacha is mostly used in Zambia for everyday transactions, whether for grocery shopping or business exchanges.

What is Mozambican metical (MZN)

The Mozambican metical (MZN) is the official currency of Mozambique, another Southern African country. The name "metical" is derived from the Arabic word "māṭiq," which means "money." The metical was first introduced in 1980, replacing the escudo at a rate of 1 metical for 1 escudo.

Similar to the Zambian Kwacha, the Mozambican metical has also faced challenges with inflation. To combat this, the Central Bank of Mozambique revalued the currency in 2006, removing three zeros from the old metical. Thus, 1 new metical (MZN) is equivalent to 1,000 old meticais (MZM).

The MZN is divided into 100 centavos, with coins available in denominations of 1, 2, 5, and 10 meticais, and banknotes available in 20, 50, 100, 200, and 500 meticais. The metical is crucial for daily business, commerce, and trade in Mozambique.

Currency Conversion between ZMK and MZN

Converting from Zambian Kwacha to Mozambican Metical requires a current exchange rate, as it fluctuates based on market conditions. To convert, you can use the formula:

Amount in MZN = Amount in ZMK × Exchange Rate (ZMK to MZN)

For those looking to convert currencies, it's essential to check reliable financial websites or banks for the latest exchange rates to ensure accuracy in your transactions.