Kwacha tumbles to K13:55 per Dollar

Kwacha tumbles to K13:55 per Dollar

The Kwacha has depreciated massively to trade at K13: 55 per one US Dollar in today’s morning session while the British Pound is trading towards K18.

And market sentiment is that by end of this week the South African Rand could become stronger than the Kwacha.

Meanwhile Civil Society for Poverty Reduction (CSPR) Board Member Guess Nyirenda this morning asked National Dialogue Forum (NDF) chairperson Muyunda Mwanalushi if Finance minister Margaret Mwanakatwe was in order to attend the forum while drunk.

On Saturday, the visibly drunken Minister was literally helped out of the Forum as she couldnt walk or talk.
And making a ruling on the matter NDF chair Muyunda Mwanalushi said the matter would be referred to the Standing Orders Committee.

Recently there were heightened calls for Mwanakatwe to pave way for a more stead hand to run the ministry of finance. This was in the wake of Mwanakatwe lying in parliament on the state of the country’s international reserves and later giving a below par appearance on prime financial media Bloomberg.

During the rebasing of the Kwacha in 2012, the Kwacha became artificially stronger than the Rand and Pula.

 

 

 

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