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On 22 August 2012 the Bank of Zambia issued a press release stating that the changeover date for the rebased currency had been set as 1 January 2013. The new ISO code will be ZMW (formerly ZMK). On January 1, 2013 the new Zambian kwacha was introduced at a rate of 1000 old kwacha = 1 new kwacha. Until June 30, 2013 the old notes remained legal tender alongside the new kwacha notes. Verxel Arts created a free visual demonstration of the old and the rebased currency video called Kwacha Ngwee. This was to help the Zambian public and the world at large to educate themselves on the new notes and coins. The video is also a historical record of the old notes prior to the re-based ones.