Zambian Kwacha continues losing value

The local currency has continued losing value against all major world currencies.

By close of business on Friday January 20, 2012, one US Dollar was costing between K5,136.89 and K5, 156.89

This is according to the Bank of Zambia (BoZ)

One British Pound was trading between K7,947.28 and k7,979.77. The South African Rand was getting between K644.81and K647.73.

The Euro was trading between K6,633.78 and K6,661.15

The Friday rates show that the Kwacha continued tumbling from the previous day on Thursday when one US Dollar was fetching between K 5,133.15 and 5,153.15

On the same Thursday, the GB Pound was between K7,934.82 and 7,966.77 while the South African  Rand was between K 647.25 and K649.89. The Euro was fetching between K 6,627.41 and K6,654.78

The Bank of Zambia does not explain what is causing the loss of value in the local currency.

One week ago ( Friday13, 2012) one US Dollar was trading between K5,077.68 and K5,097.68  The British Pound was between K7,784.097 AND 816.28 while one South African Rand fetched between K631.28 and K634.16. The Euro was trading selling between K6,488.77 and K6,514.84

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