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ZMK is the three-character currency abbreviation for the Zambian Kwacha based on the ISO-4217 standard codes. ZMK is the official currency of the Republic of Zambia. The common usage symbol for the ZMK is ZK. The Bank of Zambia is the government agency that issues the ZMK. The ZMK divides into smaller units of known as Ngwee. One ZMK equals 100 Ngwee. The ZMK is not considered a major currency and is not actively traded in the international currency markets. The value of the ZMK “floats” against other currencies. That is, market forces determine the value of the ZMK. Therefore, the ZMK is convertible into other currencies. The approximate conversion value (in late 2005) for the ZMK in US dollars is ZMK 3,600 to USD 1. |
