Money
Currency: Kwacha (K) = 100 tambala. Notes are in denominations of K200, 100, 50, 20, 10 and 5. Coins are in denominations of K1 and 50, 20, 10, 5, 2 and 1 tambala.
Currency exchange: US Dollars, Pounds Sterling, Euros or South African Rand are readily exchanged but lesser-known currencies may prove difficult to exchange.
Credit & debit cards: Acceptance of credit and debit cards is very limited, although in the capital and in main hotels Visa, MasterCard, Diners Club and American Express can be used. Check with your credit or debit card company for details of merchant acceptability and other services which may be available.
Travellers cheques: As with major currencies, including US Dollars, Euros and Sterling, travellers cheques can be exchanged in banks, hotels and other institutions. In remote areas, the Treasury Office of Local District Commissioner’s offices will cash travellers cheques. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars, Euros, Pounds Sterling or South African Rand.
Currency restrictions: The import of local currency is unlimited. The export of local currency is limited to K200. The import of foreign currency is unlimited if declared. The export of foreign currency is allowed up to the amount imported and declared on entry.
Exchange rate indicators
The following figures are included as a guide to the movements of the Kwacha against Sterling and the US Dollar:
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | £1.00= | 110.07 | 115.21 | 128.49 | 141.27 | | $1.00= | 75.53 | 75.75 | 81.25 | 88.73 |
Banking hours: Mon-Fri 0800-1400.
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