The Zambian Kwacha is the currency of Zambia. Our currency rankings show that the most popular Zambia Kwacha exchange rate is the USD.The currency of Zambia. Currency code (ZMW). Currency code was formally ZMK, until December 12, 2012. 2013 marked the start of the redenomination of the older Kwacha currency unit, approved the year before. The old and new currencies recirculated side-by-side for half the year. In June of 2013, roughly 95% of the old currency was taken out of circulation by the Bank of Zambia.