ZMK to PKR Currency Converter - 1 Zambia Kwacha To Pakistan Rupee

ZMK to PKR

The rate of exchange from ZMK to PKR is around 0 Pakistani Rupees. The fluctuation in the rate of exchange depends on the economic situations of a country. The economic, financial, and political stability of a country is imperative for a stable exchange rate. The alliance with other countries also plays a massive role in maintaining the economic conditions of the country.

The balance of payments, interest rate, and inflation rate are other factors that affect the rate of exchange. The relationship between ZMK and PKR is explained below. 

ZMK

ZMK stands for Zambian Kwacha. It is the currency of the Republic of Zambia. This currency was introduced in 1968 after it replaced the Zambian Pound. The term Zambian Kwacha is derived from the word "dawn" in the Nyanja language. This currency was pegged to the US Dollar and the British Pound until 1971, but it later became a free currency. However, due to rampant inflation, the value of the currency started to decline.

The currency is subdivided into 100 ngwees, but with the rapid inflation, the ngwee has become of no value. The Bank of Zambia issued its own version of the Pound in 1964 but was replaced later as the Zambian Kwacha.

The currency is circulated in the form of coins and banknotes. The coins are circulated in the denominations of 5, 10, 50 ngwee, and 1 kwacha. The banknotes are circulated in the denominations of 50, 100, 1000, 5000, 10000, 20000, and 50000 kwacha.

Different economic problems such as the decrease in the prices of copper globally and an increase in fuel costs resulted in a high inflation rate, which disrupted the economy and the value of the currency. The currency hit a great downfall till 2006 where its value was significantly reduced. But the Zambian Kwacha managed to regain its stability. In 2013, the Bank of Zambia recalibrated its currency with the divisor of 1000, which helped to elevate its value.

PKR

PKR stands for Pakistani Rupee. The currency of Pakistan is PKR. It was created in 1947 after the independence of Pakistan. The Pakistani Rupees are circulated in the form of coins and banknotes. The banknotes are circulated in the denominations of 10, 20, 50, 100, 500, 1,000, and 5,000 Rupees. The coins are circulated in the denomination of 1, 2, and 5. 

The Pakistani Rupee is very weak due to a poor economy. The lack of stability has dramatically affected the economic and financial conditions of the country.  The currency has significantly suffered due to financial instability, corruption, poor global image, and a massive current account deficit. Weak governing institutions also failed to implement appropriate monetary policies that led to a depletion of the currency. 

ZMK and PKR

ZMK is weaker than PKR. The rate of exchange keeps on fluctuating due to different economic factors. ZMK was weak till 2006, but with a change in currency and recalibration, it became stable again. The decrease in the demand for copper also helped the currency to redevelop itself. But, still, it is not able to compete with PKR in its value.

In contrast, PKR is still weak due to poor economic conditions and lack of employment. The government failed to manage foreign reserves, and with the financial debt, the economy suffered greatly. But it is performing better than ZMK in the international currency exchange market.