Kwacha continues going down

Kwacha continues going down

Screen Shot 2016-04-22 at 09.28.17The Zambian Kwacha has continued losing value against other currencies. One USD is today (Friday 22 April 2016) fetching K9.54 or K9, 540 old currency.

The other week, the Kwacha had made some false gains  after the Bank of Zambia poured Dollars in the economy while mopping out the Kwacha from circulation.

When the Kwacha was making some false, artificial gains not backed by any production, minister of Information Chishimba Kambwili told the world that the appreciation was the local currency’s confidence in president Edgar Lungu.

Kambwili has very limited education. But going by Kambwili’s warped reasoning, it means the Kwacha has just lost confidence in Lungu.

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