Kwacha bleeds to K6, 400 per US Dollar, Pound K10, 600

Kwacha bleeds to K6, 400 per US Dollar, Pound K10, 600

Screen Shot 2014-03-19 at 23.51.34The Kwacha has continued bleeding and has now lost value to the extent which no one thought was possible.

By close of business yesterday March 19, 2014, one Dollar was selling at K6.4014 (K6400 unrebased) at the Interbank Foreign Exchange.

One British Pound was selling at K10. 6369 (K10, 630 unrebased). http://www.boz.zm/

Last week, the Bank of Zambia (BoZ) lied that it injected US$178.0 million into the market as a measure to moderate the volatility in the foreign exchange market and support the relative low supply of foreign exchange in the country.

On Tuesday, the Kwacha was embarrassingly rated as the worst perfuming currency in the world.

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