Kwacha continues being worthless

The useless Zambian currency continued its worthless journey yesterday as investor confidence due to political and economical instability on the part of the PF continued.

It opened the day buying K6.1900 and selling at 6.3130 per US dollars but by midmorning the bank rates quickly shifted to buying at K6.3100 and selling at K6.4350.

All the hululations and showers of praise from the PF media towards the PF economic performance that followed after Finance Minister Alexander Chikwanda lifted the stupid SI 33 and 55 which he should not not have done in the first place, has now completely faded.

Bank sources say the worthless Kwacha is headed to an even worse position than it was before lifting the SIs as investors have completely lost confidence in the Zambian economy due to policy inconsistencies coupled with unstable political climate hence eroding the market confidence.

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