The Zambian Kwacha has gained value in recent months and is now stronger than the South African Rand and other currencies in the southern African region.
The Zambian Kwacha has continued to demonstrate its overall stability for a couple of months now.
The appreciation is largely attributed to low demand for dollars on the market.
A recent check shows that the Zambian Kwacha is now 1: 1.04 South African Rand while USD1 is now 16.30 Zambian Kwacha.
In contrast, the Zimbabwean dollar continues to lose value against other currencies causing great confusion as to what could be wrong in Zimbabwe.
Former Deputy Minister of Information, Publicity and Broadcasting Services, Energy Mutodi expressed disappointment while comparing Zimbabwe and Zambian currencies. He said:
Difficult to explain why the Zim currency is on free fall even with better mineral resources, and hard-working & educated people.
Bank of Zambia (BoZ) Governor Dr Denny Kalyalya has attributed the recent appreciation of the Kwacha to a higher inflow of foreign exchange from the mines as well lumpy demand, mainly for energy, during the month of June.
According to the Bank of Zambia website, as of 15:30 hours on Friday, the Kwacha was buying at 16.34 and selling at 16.39, against the US dollar.
While there is a low demand for the United States dollar in Zambia, the reverse is true in Zimbabwe.
Everybody, that is, the government, business and private citizens, want to get hold of the United States dollar.
This is mainly because the Zimbabwean industry is collapsed. Almost everything used in Zimbabwe is imported since the local industry cannot meet local demand. Imports demand foreign currency.
The huge backlog at the Reserve Bank of Zimbabwe (RBZ) SME and the Main foreign currency auction done every Tuesday is evidence of the huge demand for the greenback.
Some attribute the instability of the Zimbabwe dollar to “bad leadership” which they say has corroded public confidence in the local unit.
Meanwhile, as earlier reported by Pindula News, the RBZ is set to introduce gold coins on the 25th of July as a measure to stabilise the Zimbabwe dollar and to restore the investors’ and public’s value.
It is because Zambians are more educated than Zimbabweans they solved their problems intelligently and they are now enjoying their vote
It all has to do with leadership.genuine leadership nothing related to zakho will do any good unfortunately
You are wrong!
The traight of all African states is gain independents squander and squander what was left by their colonial masters then when sanity finally strike kick out the plunderers and start rebuilding it has happened all over Africa zim will rise back from the depths it has sunk to and be what it is supposed to be behest we are all one big African country laughing or mocking each other is only counter productive and divisive
Pride comes before the fall my friend. It is because of the negotiations with the IMF.
Easy just free the USA. Why does it have to be a crime to try to earn a living.
While, you can say stability and public order has its role in political economics, the polls are usually good indicator of democratic society, I promise you nothing has changed in the lives of people yet and if anything cost of living has risen after August elections however in the real world the cost of peace is exponentially higher than the cost bread, Zimbabweans need to take the bull by the hones the lesser is included in the greater.
Very good kwacha to gain , now we want prise of goods and inseciol of goods to come down.
Interest rates need to come down. Support small businesses and I don’t mean vegetable stands.
Bally is fixing it. A few disgruntled opposition members want to pretend that he is doing nothing but that is ok for them to hallucinate. They wont change anything. Bally has 10 years to fix this looted country
Bally is fixing it. A few disgruntled opposition members want to pretend that he is doing nothing but that is ok for them to hallucinate. They wont change anything. Bally has 10 years to fix this looted country
Bakly is our situation changer, another mandate is waiting for him.
Congratulations to Zambia. Maintain your recovery path.
It’s a dead end path.
We salute Zambia for evident example to Africa and Zimbabwe in particular. Your economic stimulus makes us proud to be Africans
“Zambian kwacha being stronger than whatever” is not something to boast about. In fact Zimbabweans are more intelligent than us Zambians , because them atleast they are able to protect their natural resources. Unlike us who are selling out our resources for printed bank notes. Exchanging values with no value. Where do you we’re heading with the supplying of ral materials as our main business. WAIT FOR THE IMPENDING DEAD END FOR AFRICA.
Because Zambia is a puppet state for USA. Imagine donating your best land for the American military camp on Zambian soil! Giving away your natural resources for paper money. In return your paid with an exchange rate. Who is fooling who! Zambia wake up otherwise your colonial masters will own your all your resources while you are smiling for pieces of papers uh 😡
Sadac must intervene if they are serious with maintain peace and security in this region,zimbabweans needs external forces to stabilise its currecy and keep its people in their country
No need to worry about USA because China owns you now
Big ups to Zambia.
This should not be about who is more intelligent than who or what. Let’s celebrate each other’s successes.
With love from South Africa 😘
Why Africa doesn’t have its own currency like European countries why we depend to American dollar
We salute Zambia for evident example to Africa and Zimbabwe in particular. Your economic stimulus makes us proud to be Africans
He just sold the country to the west. Zambia will be in taters if a communist aligned President comes in. The currency has nothing to do with Economy bit politics. Do not rejoice you just signed your life away
My independent opinion, l agree that External market forces are key to the long term stability of African Currencies.Western countries seemingly have direct influence on these tailored market forces.If the Americans have direct business interest in Zambia as they do in Botswana then chances might be Zambian Kwacha is set to be pegged against the Rand system . That is exactly what we see with the Pula which against all odds has been perfoming better than the Rand, yet the play field favours South Africa.
These deliberate market mechanisms may take the form of Sunctions that prevents the development of progressive currencies.
My independent opinion, l agree that External market forces are key to the long term stability of African Currencies.Western countries seemingly have direct influence on these tailored market forces.If the Americans have direct business interest in Zambia as they do in Botswana then chances might be Zambian Kwacha is set to be pegged against the Rand system . That is exactly what we see with the Pula which against all odds has been perfoming better than the Rand, yet the play field favours South Africa.
These deliberate market mechanisms may take the form of Sunctions that prevents the development of progressive currencies.
Reading most of these comments I sense no love or empathy for one another being Zambian myself I would say we are stable for now and it is not a competition. Put in mind it’s not African currencies we strive to beat wether through education or hardwork, we are all put where we are because of the dollar and coming from a country where we import so much I would say if we learned how to strengthen each other we wouldn’t see such news, we are disconnected.
Guys we need one currency here in Africa different money,s kills Africa one currency we become powerful continent with everything.
But what exactly did the government of Zambia to improve like this, let me know so I can try in my beautiful country malawi too ohh
Congratulations to Zambia much love from Malawi’s.
Congratulations to Zambia much love from Malawi’s.
People let’s not be ignorant despite the appreciation of our currency it can not match with south African ,Namibia or botstwana,our currency is rebased ,we just cut three zero s.
If you are a true African, emancipate yourself from being a slave of the west. Those countries whose currencies are not performing well are the ones USA and the collective west are harming because they refuse to blindly follow the west. South Africa is a case in point. It refused to condemn Russia and is a member of BRICS, which counters western hegemony. Zimbabwe has given its land to Zimbabweans. The west opposes that. Zambia is believed to be hosting USA military offices. Zambia has opened up its natural resources without let or hindrance to the west. As real Africans, understand the happenings.