Kwacha tumbles heavily

Kwacha tumbles heavily

The Kwacha has tumbled heavily today and was by 16 hours local time selling at more than K10:80 (K10, 800) per US Dollar in the Zambia national Commercial Bank.

Just last Friday, the Watchdog predicted that the Kwcha would depreciate to more than K11 per USD.

In most bureaux de change, the Kwcha has gone beyond K11 (K11, 000) per US Dollar. The Kwchaa has fallen against all major currencies.Screen Shot 2016-06-06 at 16.48.34

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