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Zambian kwacha plummets to K25 against the dollar

Filed under: Breaking News |
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In a startling economic development, the Zambian Kwacha has taken a free fall, now exchanging at a staggering K25 to a single US dollar, writes Zambian Eye Correspondent.

This alarming trend has sent shockwaves through the country’s financial landscape, leaving citizens and businesses reeling from the rapid depreciation.

Zambia’s currency, the Kwacha, has been on a downward spiral since late 2022, reaching a record low of 25.0015 per US dollar on 15 December 2023 according to indicative Foreign Exchange Rates by ZANACO.

This represents a 30% depreciation from September 2022, when the Kwacha was trading at around 19 per dollar.

The latest bank exchange rates paint a concerning picture, sparking worry and concern among Zambians.

With the value of the Kwacha plummeting, it’s imperative for everyone to stay informed and cautious about the implications of this dramatic shift.

As we navigate through these challenging times, let’s keep a close eye on the evolving situation and remain proactive in understanding the impacts of the fluctuating exchange rates.

Zambian Eye, 15th December 2023.

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