Kwacha collapses further

Kwacha collapses further

The Kwacha has crumbled further after parliament rubber-stamped the appointment of Christopher Mvunga as Bank of Zambia governor.

You now need K20.45 to buy one US Dollar. To buy One British pound , you need K26:43.

Accountancy and other students sitting exams Whose fees are payable in Pounds to British Institutions will have to pay about thrice the usual price.

With the Sourh African Rand, Botswana Pula and Namibian Dollars all stronger than the Zambian Kwacha, most cross border businesses will fold up.

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COMMENTS

WORDPRESS: 5
  • comment-avatar
    Banja 2 weeks ago

    The worst of an inept leader is yet to come…

  • comment-avatar
    if not 2 weeks ago

    What has rigging got to do with the dollar? Can your under 5 bally change anything?

  • comment-avatar
    Ngandwe 2 weeks ago

    Fire the Finance Minister!

  • comment-avatar
    Terry mwale 2 weeks ago

    The downing of the Kwacha deepened the misery of Zambia people. Prices of commodities keep sky rocketing every day. Reminds me of the KK era when the really got sick! I don’t know if Mvunga has an iota of how to handle this, nor the economists nor the government itself. So far no tangible measures have been put in place to control this situation!

  • comment-avatar
    Musumali Liyunga 2 weeks ago

    Governments rig elections but one cannot rig the economy. The worst is not yet with us. Not nice to play dununa reverse with peoples’ lives.