Kwacha reaches 5000 per US Dollar

The local currency has again reached K5, 000 per one US Dollar.

According to Bank of Zambia rates released on the 31 August, 2012, the US Dollar is fetching  between K5,012.04 and 4,992.0.

A few weeks ago, the Kwacha appreciated to K4, 800 per US Dollar following the introduction of law banning trading in hard currences.

But the Kwacha is now losing value and likely to get where it was before the political intervention.

One British Pound is not selling between K 7, 929.35 and K7, 961.62 while with one Euro, one can get K6, 325. 69.

The South African Rand is trading between K593.40 and K596.13 according to the Bank of Zambia

 

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