BoZ Withdraws Another K2.4 Trillion Old Currency

Kwacha RebasedThe Bank of Zambia (BoZ) has withdrawn about K2.2 trillion old currency from circulation and replaced it with K2.4 billion rebased.

Current Rebasing Project manager Moses Mulomba said on Friday the kwacha rebasing exercise has been a success since it was launched.

“We have offloaded K2.4 billion of the rebased currency and withdrawn K2.4 trillion of the old currency. Now so far, we have withdrawn 56 per cent of the old currency from circulation. So by half of this month, we have withdrawn half of what was there and by the end of June when the old currency will not be available for trading, we will have completed the exercise,” he said.