Kwacha continues going down

Kwacha continues going down

One US Dollar today is selling for K19:15, in commercial banks. On the black market, one Dollar is fetching K20.

For the first time One Euro costs more than K20.

One British Pound will this week reach K24.

Margaret Mwanakatwe was fired and replaced with Bwalya Ngandu as Finance minister  for failing to manage the economy properly especially the depreciation local currency. But under Mwanakatwe, the Kwacha did not reach this level of worthlessness.

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