Zambian Kwacha continues being worthless

Zambian Kwacha continues being worthless

The Zambian Kwacha has continued loosing value against major currencies nine months after the Patriotic Front took over power.

While in opposition, current President Michael Sata described the Zambian Kwacha as the most useless currency in the world and promised to strengthen it once in power.

He promised to do so many things within 90 days but nothing tangible was achieved apart from rhetoric and appointing relatives to cabinet and public positions.

In Mpulungu, poor Zambians are killing each other like animals while looking for piecework while their new leaders are donating millions of litres of fuel to neighbouring countries. Job creation was one of the key promises made by the current regime during campaigns.

The Zambia Kwacha has now reached its most worthless value in its history.

The Bank of Zambia http://www.boz.zm/reported on the first day of June 2012 that to buy One US Dollar, you need between K5, 323. 70 and K5, 343. 70.

To buy one Euro, you need between K6,566.26 and K6,593.60 while with only one British Pound, you can walk out of the Bank with K8,150.59        or K8,183.35.

The South African Rand is fetching between K615.75 and K618.48

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