One Hundred Kwacha: Difference between revisions

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{{Infobox banknote
{{Featured article}}
| denomination = One Hundred Kwacha
 
| country  = Zambia
| value  = K100
| unit    =
| width_mm = 145
| height_mm= 70
| weight_g=
| security_features= Holograms , multi-colours, embedded strips, microprinting, watermarks and different types of optically variable inks, and the use of design features which prevent counterfeiting by photocopying or scanning.
| paper_type= Paper
| years_of_printing  = 2013-present
| nature_of_rarity    =
| estimated_value    = <!-- for rare banknotes -->
| obverse            = Zambia P-54 O.jpg
| obverse_design  = [[African Fish Eagle|Eagle]], Baobab Tree, [[ Coat of arms of Zambia|Coat of arms]]
| obverse_designer    =
| obverse_design_date = 2013
| reverse            = Zambia P-54 R.jpg
| reverse_design= [[African buffalo|Buffalo]], [[National Assembly (Zambia)|National Assembly]], Freedom Statue
| reverse_designer=
| reverse_design_date = 2013
}}
The '''One Hundred Kwacha''' banknote is a denomination of the [[Zambian kwacha|Zambian currency]].<ref>{{cite web|url=http://www.boz.zm/currency-family.htm|title= Currency Family|accessdate=January 11, 2018|work=Bank of Zambia}}</ref>
The '''One Hundred Kwacha''' banknote is a denomination of the [[Zambian kwacha|Zambian currency]].<ref>{{cite web|url=http://www.boz.zm/currency-family.htm|title= Currency Family|accessdate=January 11, 2018|work=Bank of Zambia}}</ref>
The reverse features the [[Freedom Statue]] in [[Lusaka]], the issuing authority of legal tenders in Zambia, in the middle their 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]].<ref>{{cite web|url= http://www.banknotenews.com/files/18c166f8b9da589efb5afd99b96a8c0c-3798.php|title= Zambia new 100-kwacha note (B164) confirmed|accessdate=January 11, 2018|work=Bank note News}}</ref> The obverse features the [[African fish eagle]] which considered, by far, the primary recognition feature on all the Zambian banknotes, 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.<ref>Bank of Zambia press release [http://www.boz.zm/Publishing/35/35_Feartures_New_Zambian_Currency.pdf The features of the rebased currency]</ref>
The reverse features the [[Freedom Statue]] in [[Lusaka]], the issuing authority of legal tenders in Zambia, in the middle their 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]].<ref>{{cite web|url= http://www.banknotenews.com/files/18c166f8b9da589efb5afd99b96a8c0c-3798.php|title= Zambia new 100-kwacha note (B164) confirmed|accessdate=January 11, 2018|work=Bank note News}}</ref> The obverse features the [[African fish eagle]] which considered, by far, the primary recognition feature on all the Zambian banknotes, 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.<ref>Bank of Zambia press release [http://www.boz.zm/Publishing/35/35_Feartures_New_Zambian_Currency.pdf The features of the rebased currency]</ref>
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for the first time in 1991.
for the first time in 1991.
The earliest notes was the second the highest note after the [[Five Hundred Kwacha|K 500]]  until May 1996 when new notes where introduced the [[One Thousand Kwacha|K1000]], [[Five Thousand Kwacha |K5,000]] and [[Ten Thousand Kwacha|K10,000]] as the highest note until 23rd January 2012 when Government approved the recommendation of the Bank of Zambia Board to re-denominate the national currency.
The earliest notes was the second the highest note after the [[Five Hundred Kwacha|K 500]]  until May 1996 when new notes where introduced the [[One Thousand Kwacha|K1000]], [[Five Thousand Kwacha |K5,000]] and [[Ten Thousand Kwacha|K10,000]] as the highest note until 23rd January 2012 when Government approved the recommendation of the Bank of Zambia Board to re-denominate the national currency.
The re-denominate exercise entailed the dividing of all denominational values by a denominator (1,000) and this resulted in the replacement of all Zambian banknotes and coins in circulation with the rebased currency. The Bank introduced the [[Two Kwacha|K2]] banknote and the K100 banknotes as the highest note.
The re-denominate exercise entailed the dividing of all denominational values by a denominator (1,000) and this resulted in the replacement of all Zambian banknotes and coins in circulation with the rebased currency. The Bank introduced the [[Two Kwacha|K2]] banknote and the K100 banknotes as the highest note. The Bank has since maintained all the features of the old notes on to the rebased notes.


==Removal of three zeros from the denomination==
==Removal of three zeros from the denomination==

Latest revision as of 14:13, 12 February 2025

The One Hundred Kwacha banknote is a denomination of the Zambian currency.[1] The reverse features the Freedom Statue in Lusaka, the issuing authority of legal tenders in Zambia, in the middle their 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.[2] The obverse features the African fish eagle which considered, by far, the primary recognition feature on all the Zambian banknotes, 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.[3] The K100 note is the largest denomination that has been printed 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.[4]


History of the 100Kwacha note

Main articles: Zambian Kwacha § Banknotes, First One Hundred Kwacha, and Second One Hundred Kwacha

The Hundred kwacha notes were introduced by the Bank of Zambia for the first time in 1991. The earliest notes was the second the highest note after the K 500 until May 1996 when new notes where introduced the K1000, K5,000 and K10,000 as the highest note until 23rd January 2012 when Government approved the recommendation of the Bank of Zambia Board to re-denominate the national currency. The re-denominate exercise entailed the dividing of all denominational values by a denominator (1,000) and this resulted in the replacement of all Zambian banknotes and coins in circulation with the rebased currency. The Bank introduced the K2 banknote and the K100 banknotes as the highest note. The Bank has since maintained all the features of the old notes on to the rebased notes.

Removal of three zeros from the denomination

On January 23, 2012, the Bank of Zambia proposed certain measures in regards of the redenomination of the Zambian Kwacha.[5] 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.[6] The recommendations were assented to the parliament on November 3, 2012. Later, The Re-Domination of Currency Act (Act 8 of 2012) was enacted on December 3, 2012.[7]

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 the other hand, the preexisting K20 banknote was removed from circulation due to its extremely low purchasing power.[8]

References

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  1. ↑ Lua error in Module:Citation/CS1 at line 4515: attempt to index field 'date_names' (a nil value).
  2. ↑ Lua error in Module:Citation/CS1 at line 4515: attempt to index field 'date_names' (a nil value).
  3. ↑ Bank of Zambia press release The features of the rebased currency
  4. ↑ Bank of Zambia press release Presenntation to commercial banks: Identifying the genuine Zambian currency
  5. ↑ Bank of Zambia press release Kwacha Rebasing - All you need to know!
  6. ↑ Bank of Zambia press release Kwacha Rebasing - All you need to know!
  7. ↑ The Re-Domination of Currency Act 2012 - National Assembly of Zambia
  8. ↑ Lua error in Module:Citation/CS1 at line 4515: attempt to index field 'date_names' (a nil value).
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