History
In 1968, the kwacha, a decimal type currency replaced the short lived pound at a rate of 2 kwacha = 1 pound (10 shillings = 1 kwacha). During the Kenneth Kaunda regime the value of the currency was fixed at a rate of approximately 1.2 kwacha to 1 USD. During the late eighties and early nineties a severe economic crisis emerged stemming from poor government oversight and overspending. As a result the currency suffered from high inflation throughout the 1990s and 2000s. By 2006, it took 4,800 kwacha to buy one U.S. Dollar.
As of March 8, 2011, 1 US dollar was equal to 4,715 kwacha.
As of January 23, 2012, 1 US dollar was equal to 5,120 kwacha
Read more about this topic: Zambian Kwacha
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“This above all makes history useful and desirable: it unfolds before our eyes a glorious record of exemplary actions.”
—Titus Livius (Livy)
“As I am, so shall I associate, and so shall I act; Caesar’s history will paint out Caesar.”
—Ralph Waldo Emerson (1803–1882)
“I am ashamed to see what a shallow village tale our so-called History is. How many times must we say Rome, and Paris, and Constantinople! What does Rome know of rat and lizard? What are Olympiads and Consulates to these neighboring systems of being? Nay, what food or experience or succor have they for the Esquimaux seal-hunter, or the Kanaka in his canoe, for the fisherman, the stevedore, the porter?”
—Ralph Waldo Emerson (1803–1882)