ZMK to TZS

ZMK - Zambian kwacha (ZK)
TZS - Tanzanian Shilling (TSh)
1 ZMK1 TZS

Currency conversion rates from ZMK to TZS

ZMKTZS
1 ZMK1 TZS
5 ZMK5 TZS
10 ZMK10 TZS
20 ZMK20 TZS
50 ZMK50 TZS
100 ZMK100 TZS
250 ZMK250 TZS
500 ZMK500 TZS
1000 ZMK1000 TZS
2000 ZMK2000 TZS
5000 ZMK5000 TZS
10000 ZMK10000 TZS
TZSZMK
1 TZS1 ZMK
5 TZS5 ZMK
10 TZS10 ZMK
20 TZS20 ZMK
50 TZS50 ZMK
100 TZS100 ZMK
250 TZS250 ZMK
500 TZS500 ZMK
1000 TZS1000 ZMK
2000 TZS2000 ZMK
5000 TZS5000 ZMK
10000 TZS10000 ZMK

TZS - Tanzanian Shilling (tzs)

Tanzanian Shilling

The Shilling is the official currency of Tanzania, although the use of US Dollars is widely accepted. The Shilling is subdivided into 100 cents. The Tanzanian Shilling replaced the East African Shilling at par in 1966.

The Tanzanian Shilling is the currency in Tanzania (United Republic of Tanzania, TZ, TZA). The symbol for TZS can be written TSh. The Tanzanian Shilling is divided into 100 cents. The exchange rate for the Tanzanian Shilling was last updated on May 24, 2019 from Yahoo Finance. The TZS conversion factor has 5 significant digits.

Economy

  • Tanzania has embarked on a major restructuring of state-owned enterprises. The program has so far divested 335 out of some 425 parastatal entities.
  • Overall real economic growth has averaged about 4% a year, much better than in the previous 20 years, but not enough to improve the lives of average Tanzanians. The economy is heavily dependent on aid.
  • Tanzania has an external debt of $7.9 billion. The servicing of this debt absorbs about 40% of total government expenditures.
  • Tanzania has qualified for debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) initiative. Debts worth over $6 billion were canceled following implementation of the Paris Club 7 Agreement.

History

  • In 1966, coins were introduced in denominations of 5, 20, and 50 cents and 1 shilling. The 5-cent coin was struck in bronze, the 20-cent in nickel-brass, and the 50-cent and 1 shilling in cupro-nickel.
  • Cupro-nickel 5-shilling coins were introduced in 1972, followed by scalloped, nickel-brass 10-cent coins in 1977. This First Series coins set, in circulation from 1966 to 1984, was designed by Christopher Ironside OBE.
  • In 1987, nickel-clad steel replaced cupro-nickel in the 50-cent and 1-shilling coins, and cupro-nickel 5- and 10-shilling coins were introduced; the 5-shilling was octagonal.
  • In 1990, nickel-clad-steel 5, 10, and 20 shilling coins were introduced, followed by brass 100-shilling coins in 1994, 50-shilling coins in 1996, and 200- shilling coins in 1998. The coins presently in circulation are the 50, 100, and 200 shillings.

More information about TZS - Tanzanian Shilling (tzs)


ZMK - Zambian Kwacha (1968–2012) (ZMK)

Zambian Kwacha (1968–2012)

The Zambian Kwacha is the currency of Zambia, issued by the Bank of Zambia. The name Kwacha derives from the Nyanja and Bemba word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom".

The Old Zambian Kwacha is the currency in Zambia (ZM, ZMB). The symbol for ZMK can be written ZK. The Old Zambian Kwacha is divided into 100 ngwee. The exchange rate for the Old Zambian Kwacha was last updated on May 24, 2019 from Yahoo Finance. The ZMK conversion factor has 4 significant digits.

Economy

  • Zambia's economy has experienced strong growth in recent years, with real GDP growth more than 6% per year since 2005.
  • Copper output has increased, thanks to copper mine privatization, higher copper prices and more foreign investment.
  • Record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008.
  • Poverty remains a significant problem in Zambia, despite its stronger economy. Almost 70% of Zambians live below the national poverty line (almost 80% in rural areas).
  • Zambia ranks among the world's poorest nations in a variety of economic and social statistics and surveys: GDP per capita, competitiveness, life expectancy, infant mortality, and so on. A high birth rate and relatively high rate of HIV/AIDS put further strain on the economy.

History

  • Zambia gained independence from Great Britain in 1964. In 1968, the Zambian Kwacha replaced the Pound at a rate of two Kwacha = 1 Pound.
  • Kenneth Kaunda was the first president of Zambia in 1964, and stayed in office until 1991. During his regime, the value of the currency was fixed at a rate of approximately 1.2 Kwacha to 1 US Dollar. Until 1991, all Zambian banknotes featured a portrait of Kaunda on the obverse side (his image was later replaced by an African fish eagle).
  • A severe economic crisis stemming from poor government oversight and overspending contributed to high inflation throughout the 1990s and 2000s. By 2006, it took 4,800 Kwacha to buy one US Dollar. The currency has more recently stabilized.

More information about ZMK - Zambian Kwacha (1968–2012) (ZMK)