Instruct: Given a question, retrieve relevant passages that can help answer the question.
Query: What is the official currency in Zambia?
The Kwacha (ISO 4217 code: ZMW) is the currency of Zambia. It is subdivided into 100 Ngwee.
By June 26, 2013, the Bank of Zambia managed to withdraw 3.7 trillion Kwacha in old banknotes, accumulating to about 95.3% of the circulating banknotes. Although the old currency ceased to be legal tender four days later, the Bank of Zambia Deputy Governor, announced that residents who were still holding to the old currency, especially those living in rural areas, could still be able to exchange the old currency for the new one through commercial banks, and other designated agents.[12]
The University of Zambia (UNZA) is a public university located in Lusaka, Zambia. It is Zambia's largest learning institution. UNZA was established in 1965 and officially opened to the public on 12 July 1966. It is also the oldest public university in Zambia. The language of instruction is English.
The bank traces its history to the Reserve Bank of Rhodesia, founded in 1964, but which succeeded the Reserve Bank of Rhodesia and Nyasaland (1956-1963) which had been liquidated at the collapse of the Federation of Rhodesia and Nyasaland in 1963. Prior to 1956 there was a Central African Currency Board from 1953, but which had been established as the Southern Rhodesia Currency Board in 1938 to provide Rhodesian currency, fully backed and bound to British sterling. The local currency which this Board was mandated to supply to Southern Rhodesia (colonial Zimbabwe), Northern Rhodesia (colonial Zambia) and Nyasaland (colonial Malawi) had been established through the Southern Rhodesia Coinage and Currency Act of 1932. The Reserve Bank of Rhodesia (which became the Reserve Bank of Zimbabwe at independence) has continued to function, and has grown in operations and staff, through a variety of changes in sovereignty and governmental structure in Rhodesia and Zimbabwe. For over 4 decades the RBZ operated from the Reserve Bank Building along Samora Machel Avenue (formerly Jameson Avenue) adjacent to First Street. In the late 1980s a competition was conducted to design the new building and the winning design was by Clinton & Evans and Architects; they went on to design the Reserve Bank of Malawi Building as well. Construction of the new RBZ building began in 1993 and was fully completed in 1997 but was officially opened by President Robert Mugabe on May 31, 1996. The building is the tallest in Zimbabwe standing at a height of 394 feet with 28 floors above ground.
Initially, the currency processing operations in the Treasury were not formally organized. When Congress created the Office of Comptroller of the Currency and National Currency Bureau in 1863, currency-processing operations were nominally subordinated to that agency and designated the "First Division, National Currency Bureau." For years, however, the currency operations were known by various semi-official labels, such as the "Printing Bureau," "Small Note Bureau," "Currency Department," and "Small Note Room." It was not until 1874 that the "Bureau of Engraving and Printing" was officially recognized in congressional legislation with a specific allocation of operating funds for fiscal year 1875.
The union was founded on 17 November 1961 as Rhodesian Society of Bank Officials. Its name was changed to Zambia Union of Bank Officials on 23 November 1970, then Zambia Union of Financial Institutions in 1978. It was given its current name in 1984. 
As for East Africa, extensive British settlements were established in what are now Kenya, Uganda, Tanzania, Malawi, Zambia and Zimbabwe, where English became a crucial language of the government, education and the law. From the early 1960s, the six countries achieved independence in succession; but English remained the official language and had large numbers of second language speakers in Uganda, Zambia, Zimbabwe and Malawi (along with Chewa).
Zambia has on numerous occasions accused Kenya of blocking Zambian made goods, particularly sugar. Zambia has on occasion retaliated by blocking all Kenyan made goods from Zambia. At one time Zambia refused to allow palm oil from Kenya citing that the goods didn't meet the 35% local content. Kenyan processed milk was also not allowed into Zambia at a time as Zambian officials had concerns with standards. Both countries are part of COMESA which is a free trade area aimed at promoting intra-African trade.
In 1954 the Southern Rhodesia Currency Board was renamed the Currency Board of Rhodesia and Nyasaland, and as the winds of change were strong in Africa at the time, the currency board was transformed into the Bank of Rhodesia and Nyasaland in 1956. 
Mubanga was living with relatives, in Zambia, when he was arrested by Zambian Police, accompanied by US security officials. He was not charged with any crime in Zambia. He was transported out of Zambia without the US requesting an official extradition. His transport is one of the well-known uses of the technique known in the US as extraordinary rendition.
National Sports Council of Zambia (NSCZ) is a sports council based in Zambia. They have considerable power in sports policy in Zambia and were responsible for banning Faz president Kalusha Bwalya from all official sporting engagements.
In a fixed exchange rate system, the central bank maintains an officially announced exchange rate by standing ready to buy or sell foreign currency at that rate. In general terms, revaluation of a currency is a calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline could in principle be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (specifically, its central bank) can alter the official value of the currency. In contrast, a devaluation is an official "reduction" in the value of the currency.
The old currency unit was divided by 1000, hence, removing three zeros from the preexisting K50,000, K20,000, K10,000, K5,000, and K1,000. The lower denominations of K500, K100, and K50 were also divided by 1000 and were changed into the 1 Kwacha, 50, 10, and 5 Ngwee coins respectively.
On January 23, 2012, the Bank of Zambia proposed certain measures in regards of the redenomination of the Zambian Kwacha. Such recommendations were initially approved by the government, being one of the measures required to address costs associated with the continuous devaluation of the national currency, due to depreciation throughout time, as a direct result of several years of high inflation rates that characterized the national economy during the late decades of the 20th century, and the early years of the 21st century. On 22 August 2012 the Bank of Zambia issued a press release stating that the changeover date for the rebased currency had been set as 1 January 2013.
The recommendations were assented to the parliament on November 3, 2012. Later, The Redomination of Currency Act (Act 8 of 2012) was enacted on December 3, 2012.
The one hundred kwacha note of Zambia is a denomination of the 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, 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 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, 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, 2013 when the three zeros from the preexisting denomination K500, K1,000, K5,000, K10,000, K20,000 and K50,000 were removed.
Between 1950 and 1990, a unit known as the złoty dewizowy (which may be roughly translated as the "foreign exchange złoty") was used as an artificial currency for calculation purposes only. It existed because at the time the złoty was not convertible (like most Warsaw Bloc currencies) and its official rate of exchange was set by the government. Additionally several exchange rates existed depending on the purpose of the transaction and who was exchanging; for example, złoty could be exchanged for, say, US dollars at one of several official exchange rates depending on what was to be bought with the hard currency and the entity that was buying. In reverse, it worked when an individual or a business had western currency earnings and wanted (or needed) to convert them into złoty. The exchange rate did not depend on the amount being converted. Visitors from countries outside of the Soviet Bloc were offered a particularly poor exchange rate. Concurrently, the private black-market exchange rate contrasted sharply with the official government exchange rate until the end of communist rule in 1989, when official rates were tied to market rates.
Prior to independence, 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 ½, 1, 3, 6 pence, and 1, 2, 2½, 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.[1] A new design to depict the newly independent country's history and struggle was adopted. The two currencies - the Rhodesia and Nyasaland pound and the Zambian pound, were allowed to circulate in parallel until December 15, 1965, when the South Rhodesian pound bills and coins were withdrawn from circulation, except for the 3 pence coin which was allowed to circulate alongside its Zambian alternative for a brief period.[2]
On 30 June 2009 the airline was authorized by the Zambia Competition Commission to form an alliance with Zambezi Airlines. The airline was officially rebranded as Proflight Zambia in 2010.
Official currency substitution helps to promote fiscal and monetary discipline and thus greater macroeconomic stability and lower inflation rates, to lower real exchange rate volatility, and possibly to deepen the financial system. Firstly, currency substitution helps developing countries, providing a firm commitment to stable monetary and exchange rate policies by forcing a passive monetary policy. Adopting a strong foreign currency as legal tender will help to "eliminate the inflation-bias problem of discretionary monetary policy". Secondly, official currency substitution imposes stronger financial constraint on the government by eliminating deficit financing by issuing money. An empirical finding suggests that inflation has been significantly lower in economies with full currency substitution than nations with domestic currencies. The expected benefit of currency substitution is the elimination of the risk of exchange rate fluctuations and a possible reduction in the country's international exposure. Currency substitution cannot eliminate the risk of an external crisis but provides steadier markets as a result of eliminating fluctuations in exchange rates.
Because Chilanga is a transitional area between Lusaka Province and Southern Province, Zambia, both Tonga and Nyanja Bantu languages are spoken and understood, although, as with most of Zambia, many other tribal languages are also understood. English is the official language of Zambia, and most people in Chilanga can communicate in English.
Zambia, officially the Republic of Zambia, is a landlocked country in Southern Africa. The neighboring countries are the Democratic Republic of the Congo to the north, Tanzania to the northeast, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west.
Zambia Cricket Union is the official governing body of the sport of cricket in Zambia. Its current headquarters is in Lusaka, Zambia. Zambia Cricket Union is Zambia's representative at the International Cricket Council and is associate member and has been a member of that body since 2003. It is also a member of the African Cricket Association. 
A currency board (also known as 'linked exchange rate system") effectively replaces the central bank through a legislation to fix the currency to that of another country. The domestic currency remains perpetually exchangeable for the reserve currency at the fixed exchange rate. As the anchor currency is now the basis for movements of the domestic currency, the interest rates and inflation in the domestic economy would be greatly influenced by those of the foreign economy to which the domestic currency is tied. The currency board needs to ensure the maintenance of adequate reserves of the anchor currency. It is a step away from officially adopting the anchor currency (termed as currency substitution).
Standard Chartered Zambia, officially Standard Chartered Bank Zambia Plc, is a commercial bank in Zambia and a subsidiary of Standard Chartered. It is licensed by the Bank of Zambia, the central bank and national banking regulator.
The official language of Zambia is English, which is used to conduct official business and is the medium of instruction in schools. The main local language, especially in Lusaka, is Nyanja (Chewa), followed by Bemba. In the Copperbelt Bemba is the main language and Nyanja second. Bemba and Nyanja are spoken in the urban areas in addition to other indigenous languages which are commonly spoken in Zambia. These include Lozi, Kaonde, Tonga, Lunda and Luvale, which feature on the Zambia National Broadcasting Corporation (ZNBC)'s local languages section. The total number of languages spoken in Zambia is 73.
The process of urbanisation has had a dramatic effect on some of the indigenous languages, including the assimilation of words from other indigenous languages and English. Urban dwellers sometimes differentiate between urban and rural dialects of the same language by prefixing the rural languages with 'deep'.
The Bank of Zambia announced January 1, 2013 as the changeover date. On the same day, the new redenominated currency became the legal tender of Zambia.[10] The old and new currencies were allowed to circulate side-by-side for a transition period of six months, until 30 June 2013.[11] During this period, the old currency was denoted by 'K', whilst the new one was denoted by 'KR'. After the six-month period, the 'KR' symbol was dropped, and the new currency was referred to by the 'K' symbol.