Central Banking

Zambia sets rebased currency introduction date

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The Bank of Zambia announced on August 22 that the currency changeover date on which rebased banknotes will enter circulation has been set for January 1, 2013.

"The rebased currency shall become legal tender on January 1, 2013 and accordingly will be accepted as a medium of exchange in the Republic of Zambia," the central bank said in a statement sent to CentralBanking.com today (August 23).

The process of removing three zeros from the value of banknotes began in January 2012 when the minister

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