Kwacha breaches K14 mark

Filed under: Breaking News,Business |
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The Zambian Kwacha has continued to lose value, breaching the K14 psychological mark against the US dollar.

The local currency, which has been on a downward trajectory against major currencies like the greenback and the British pound, is now running towards the K15 per dollar

Commercial banks are now quoting the US dollar at an average of K14.10

Market experts recently said the local currency was likely to continue with its depreciating trend in the short term. This means possibilities of the kwacha reaching K15 per dollar are not far-fetched, the experts said.

This development is expected to effect some changes in prices to essential commodities and basic services. If the Kwacha doesn’t stabilise, instability in Economical sectors is expected.

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2 Responses to Kwacha breaches K14 mark

  1. Kwacha appreciation after knocking down the zeros was very artificial. Where on earth can the kwacha be stronger than the rand and Kenyan shillings or Nigerian Niro when the economies of these countries are much stronger than Zambia?

    Monze
    May 17, 2019 at 3:47 pm
    Reply

  2. Bad things are yet to be seen. If the head of state is involved in corruption what do you expect? Tuli muchibe

    Ellis
    May 20, 2019 at 6:38 pm
    Reply

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