The Zambian currency is Kwacha (ZMW) and its rates can fluctuate significantly. Zambia has a free market economy with no exchange controls. Major currencies can be bought and sold over the counter at bureaux de change companies and banks in Zambia. Money exchange services are available in cities and towns across the country and most will publish their Kwacha exchange rates in-store. Exchange rates will vary from day to day so ensure you use a credible service provider.
Location of bureaux de change in Zambia
In Zambia a bureau de change may be located at a bank, at a travel agent, airport, main railway station or large stores, basically anywhere there is likely to be a market for people needing to convert currency. They are particularly prominent at travel hubs, although currency can be exchanged in many other ways both legally and illegally in other venues.
More about currency and exchange rates in Zambia
The Kwacha (ISO 4217 code: ZMW) is the currency of Zambia which is subdivided into 100 Ngwee, with the three digit numeric code of 967. Major currencies available for money exchange at a bureau de change include dollars, pound sterling, rand and kwacha, other currencies can be ordered on request.
The exchange rates charged at a bureau de change are generally related to the spot prices available for large interbank transactions, and are adjusted to ensure a profit. The rate at which a bureau de change will buy currency differs from that at which it will sell it; for every currency it trades both will be on display, generally in the shop window. The bureau de change is obliged to publish on its exchange rate list only the least favourable exchange rate it offers. Some bureaux de change allow you to negotiate a more favourable exchange rate before the transaction depending, for example, on the amount being exchanged.
The business may also charge a commission on the transaction which is generally charged as a percentage of the amount to be exchanged, or a fixed fee, or both. Some bureau de change do not charge commission but may adjust their offered exchange rates. Some bureaux de change offer special deals for customers returning unspent foreign currency after a holiday. A bureaux de change rarely buy or sell coins, but sometimes will at a higher profit margin, justifying this by the higher cost of storage and shipping compared with banknotes.
Taking care of transactions
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