No vision: Kwacha continues losing value

No vision: Kwacha continues losing value

Reflecting the poor national leadership, the Zambian Kwacha has continued losing value.

After breaching the K8 against one USA dollar mark on Monday, the Kwacha has continued depreciating against the Dollar and other currencies. It is the first time that the Zambian Kwacha has hit the K8 (K8000 unrebased) per USD Dollar.

During the reign of late Levy Mwanawasa, the local currency had stabilized at K3, 800 (k3.8 rebased)

One USA Dollar is now fetching K8.2253 at FNB, while one British Pound is getting K12.9047. To buy one Euro you need K9.2083. The FNB figures are analogous with ZANACO figures shown in the picture.

All this is happening just after the government borrowed U$S1.25 billion Eurobond

 

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