Forex Zambia
1 EUR = 22.5378 ZMW
Indicative rate, updated 7 hours ago. Not a live dealing rate - confirm with your broker before trading.
A live technical-analysis reading for EUR/ZMW, from Strong Sell to Strong Buy, updated automatically by TradingView. Forex has no reliable, freely-published Fear & Greed Index the way stocks or crypto do, so this momentum-based gauge is shown instead.
EUR/ZMW shows how many Zambian Kwacha one Euro buys. It's driven by copper export earnings, Bank of Zambia policy and inflation, alongside the Euro's own trend against the Dollar.
Rates shown here are indicative only, sourced periodically rather than streamed live. Confirm the exact rate with your bank or broker before converting funds or opening a trade.
Latest
22.2278
25 Sep 2026
Highest since Mar 2024
32.6074
23 Apr 2025
Lowest since Mar 2024
20.5693
24 Jun 2026
12-month average
23.2489
20.5693 – 28.0578
Over the past year EUR/ZMW has fallen 20.19%, meaning the EUR has weakened against the ZMW. In the last 30 days it has moved down 0.20%. Across the last 12 months it traded between 20.5693 and 28.0578. Its highest level in the data window (since March 2024) was 32.6074 on 23 Apr 2025, and its lowest was 20.5693 on 24 Jun 2026.
Based on weekly data from 6 Mar 2024 to 25 Sep 2026. Source: Weekly rate snapshots (currency-api). A rising rate means the EUR is strengthening against the ZMW. Past performance does not predict future results.
A pair's price is one currency's value measured against another, so the economy behind each side matters.
Eurozone · European Central Bank (ECB) · Free float
The Euro is the shared currency of most EU member states and the world's second most-traded currency. Its value reflects the combined economies of the Eurozone, led by Germany and France.
Zambia · Bank of Zambia (BoZ) · Managed float
Zambia is Africa's second-largest copper producer and one of its most commodity-dependent economies. The Kwacha is a freely floating currency in principle, but the Bank of Zambia intervenes to smooth volatility, and the currency trades thinly, so moves can be sharp.
EUR/ZMW is effectively a two-step rate: it combines the Euro's value against the US Dollar with the Kwacha's value against the US Dollar. A move in either leg, or in both, changes EUR/ZMW.
Copper is the key common thread. Because it is priced in Dollars and Zambia depends on it for most export revenue, rising copper tends to strengthen the Kwacha, while falling copper tends to weaken it. Chinese demand (China buys most of the world's refined copper) is therefore an important background driver.
The Zambian Kwacha is an emerging or frontier-market currency. Compared with a major reserve currency, its market is thinner, so shifts in global risk appetite, Dollar liquidity and capital flows can move it faster and further than fundamentals alone would suggest.
Central-bank policy matters on both sides: the European Central Bank (ECB) and the Bank of Zambia (BoZ). When one of them is expected to keep interest rates higher than the other, that currency usually attracts capital and strengthens; a narrowing gap tends to reverse the move.
Higher yields relative to US Treasuries tend to support the Euro
Spikes usually weaken the Euro
Usually moves with the Kwacha: rising copper tends to strengthen it
Usually inverse: a stronger Dollar tends to weaken the Kwacha
A gauge of copper demand from Zambia's largest buyer
Reflect investor confidence in debt sustainability
1999 EUR
The Euro launched, initially trading well above the Dollar before sliding to lows in 2000–01.
2008 EUR
It peaked around $1.60 in mid-2008 just before the global financial crisis.
2010–12 EUR
The sovereign debt crisis (Greece, Ireland, Portugal, Spain, Italy) put the Euro's survival in question.
2013 ZMW
The Kwacha was rebased, with 1,000 old kwacha (ZMK) replaced by 1 new kwacha (ZMW).
2015 ZMW
A copper price slump, power shortages and fiscal slippage triggered a sharp Kwacha depreciation.
2020 ZMW
Zambia became the first African country to default during the COVID-19 period, and the Kwacha fell to record lows against the Dollar at the time.
2021 ZMW
A peaceful change of government and hopes of IMF support sparked a strong Kwacha rally.
2022 EUR
The energy shock following Russia's invasion of Ukraine drove the Euro below parity with the Dollar for the first time in about 20 years.
2023 ZMW
Debt restructuring agreements with official creditors progressed, alongside a severe drought that hit power generation and the Kwacha.
2024 ZMW
Drought-driven load-shedding and a bondholder restructuring deal shaped sentiment, and the Kwacha weakened towards historic lows.
2025–26 ZMW
After touching its weakest level in our rate data in March 2025, the Kwacha staged a strong recovery against the US Dollar over the following year.
EUR/ZMW is a direct Kwacha rate, so it shows what Zambian importers, students, travellers and traders actually pay or receive when converting to or from the EUR. Most international retail brokers don't list Kwacha pairs, so traders normally trade Dollar-based pairs and use this rate to understand deposit and withdrawal costs.
Compare brokers offering these pairs →Most active: London and early New York sessions • Lusaka business hours, then the London and New York sessions
1 EUR is worth about 22.5378 ZMW (indicative, updated 7 hours ago). Always confirm the exact rate with your bank or broker before you convert or trade.
In the data we track (since 6 Mar 2024), EUR/ZMW peaked at 32.6074 on 23 Apr 2025 and bottomed at 20.5693 on 24 Jun 2026.
EUR/ZMW is influenced by the relative strength of the Euro and the Zambian Kwacha. Key factors include: ECB interest-rate policy, German and Eurozone economic data, Copper prices, US Dollar strength and global risk appetite. See the sections above for the full list.
Activity and liquidity are typically highest during: London and early New York sessions • Lusaka business hours, then the London and New York sessions. Spreads are usually tighter when the relevant markets are open.
EUR/ZMW can be more volatile or carry wider spreads than the major pairs, so it usually suits experienced traders better. If you are new, start with a demo account and a major pair. Trading forex carries a high risk of loss.
This page is educational and is not investment advice. Rates, statistics and commentary are indicative and may contain errors or be out of date. Forex and CFD trading carries a high risk of loss.