BoZ Off-loads K50 Million of Rebased Notes

BoZ GondweThe Bank of Zambia (BoZ) has withdrawn K50 billion old kwacha notes from circulation and replaced it with K50 million new currency from January 1, 2013.

BoZ governor Dr Michael Gondwe has confirmed the exercise when he visited Zambia Post office in Ndola.

And Zampost Postmaster General McPherson Chanda is happy that the duo usage of the currency after the rebasing exercise is progressing well.

Zambia has rebased the currency and up to June this year, there will be a dual display of prices while BoZ will keep withdrawing more old currency from the market.

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