kwacha
THE Kwacha has continued to depreciate trading in the range K7.5 and K7.7.
Yesterday the local currency was seen trading between K7.30 and K7.56
due to dollar demand from importers and interbank players.

A check in Lusaka, at some bureau showed some signs of depreciation.

At Bullion Bureau de Change along Cairo road, the Kwacha buying at
K7.5 and selling at K7.7 against the greenback, while at CFB the local
currency was buying and selling at K7.4 and K7.6 respectively.

The copper prices on the international market yesterday opened up by
more than one percent on Thursday, from a near one-month low in the
previous session, as a soft dollar absorbed the fallout from a U.S.
economic growth downgrade.

According to the Reuters, three-month copper on the London Metal
Exchange (LME) rose by 1.2 per cent to $5,740 a tonne, paring two per
cent losses from the previous session when prices touched their
weakest since February 24 at $5621.50 a tonne.

On the other hand oil prices slipped below US$56 a barrel bigger than
expected oil stocks in the United States though losses were limited on
a weaker dollar as the Federal Reserve signalled a slower speed of
interest rate hike.

The Reuters noted that futures for May delivery fell 22 cents to
$55.69 a barrel, after jumping as much as six per cent in the previous
session.

Gold extended gains on Thursday to its highest level in nearly two
weeks as the dollar tumbled after the Federal Reserve signalled a
slower pace of U.S. interest rate hike and caution on U.S. economic
growth.

Spot gold gained 0.6 percent to $1,174.26 an ounce, after earlier
climbing to $1,175.05, its highest since March 9.

The metal gained 1.6 per cent on Wednesday, its biggest one-day jump
since January 30.

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25 COMMENTS

  1. We will hide behind the fact that other currencies are also not doing well. That’s a good enough excuse for us Zambians

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    • We have ignorant f00ls in power who have no idea of what to do to improve the currency. I miss MMD

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    • @chils dont compare zambia with other countries’ currency becuase their economies are better far than zambia!!
      Zambian’s economical crisis is unprecedented in the history of the country!!!!! so chils dont try to tell us the zambia is on the safe side nooo first before you compare with other countries’ economies you must look at the economic stability in zambia!!!!!

      Lungu and all the pf is to blame!!!!

      God will punish you for just concetrating on filling your pockets in the pf!!!!
      but ine thing tht mkes me happy is that the disaster we are facing in zambia is not only for the opposition but also the ignorant pf minions like you hahahah its inclussive we shall all feel the pinch

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    • My prediction of the kwacha reaching K20 to a $1 fast approaching due economic miss management by Lungu’s Pro Failure party.

      It might even hit K20 to a $1 before 2016 going by the rate it’s falling.

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    • Wait till it gets to K 10 the re-base thanks for the advise from brother BOB. Eventually we will allow to trade in any currency after all it is a global economy.

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    • Ifipuba will continue singing ‘ifintu ni Lungu’. The trouble is, !diots far outnumber the wise in Zambia, come 2016 nothing will change they will still vote for Lungu whether healthy or on a drip .

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  2. Policies under the current Minister of Finance have failed this country. Fossils need to be in museum, not tackle with globalisation. The current dollar scenario will take Zambia few years back. Most cash flow is used by government to service our colossal debt accumulated by PF in a meagre 3 years. The poor will keep on suffering and for that, the Almighty’s wrath will fall upon us.

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  3. Set up a task force to look into the nose diving Kwacha instead of these stupid Tribunals which are mere academic if not a sheer ware of time…

    Hope this guy goes next year …..

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  4. Its a bird! No, its a plane! Its falling fast, HELP! No, actually its the Kwacha.
    Zimbabwe in the making.

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    • Heading towards being worse than Zimbabwe. That was the plan from the start of EL’s leadership. He sneaked out of the country to get advice from sister party ZANU-PF on how to win an election, after ‘winning’, he visited Zimbabwe for advice on how to run the country, so Zambians should know what to expect…disaster!!!

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  5. Unfortunately the trend will continue, just like most African countries. They key lies in Education, Health, Infrastructure, Agriculture, Manufacturing and Research once these are in order then a nation can become self reliant. It’s easier said than done, but if you communicated to achieving something you need to start somewhere and remain focused, that’s something our governments in African have constantly lagged behind.

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  6. Let Lungu consider replacing Chikwanda. The man has no clue of the economy of the 21st century, let him rest he made our economy to fall in the 1980s.He is really a liability to the Government and even to the party, he has never appeared at any Pf rally since its inception.

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  7. ……thou there are a number of factors causing this ZKW’sky diving’….for me, one factor stands out…….this situation is the emancipation of rebasing of kwacha…the true effects are now ‘ripening’….I wonder how many fake K100 are on the street right now….
    ..the same parameters which existed 7/8 years ago when kwacha was trending at K3.6/K4 to a dollar are still around, no significant ‘forex’ earning companies like the mines have closed down…then why this significant change on Kwacha to dollar….??
    …also bear in mind, some ‘big’ guns supported the opposition, they can in a way contribute to this situation by with holding a chunk of mineral revenue overseas….only to enter Zed in the name of goods and machinery…..

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  8. With a visionless sick lazy president and a Fossil finance minister in power….its going to take a miracle!!

    Infintu ni LUNGU!!

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  9. We all voted wisely. Let us endure this together. I was saying whether we vote wisely or foolishly what comes will hit us all for the better or for the worst. VIVA PF till KAYA.

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  10. Advice to ba EC Lungu please stay away from Mugabe he is the causer of this ever falling Kwacha.

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  11. AS long as copper prices keep on fallen ,kwacha will continues to depreciate ,if we tell you that the prices of commodities such as copper,platinum,gold and iron ore on int’l market are not doing well which has significantly affected the currencies in these countries whose main product is such mentioned above ,some bloggers who claim to be educated without understanding the concept of economies and the reason behind the weakening of currencies such as kwach ,rands and Ghana cedis they say dont talk about other currenice.

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  12. remove the outdated minister of finance since you have found a new bank of zambia governor find a better someone maybe things will change . butter under pf all is wrong, we told you vote wisely vote upnd with its able leadership hh things could have changed for the better by now. so you asked for it feel it and enjoy it. for those with brains vote hh 2016 all will be ok one time.

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  13. What we need is a holistic approach to development not anchored on a single dominant export commodity. We need to boost our non traditional export sectors, empower more Zambians in business to avoid forex repatriation and limit the amount these investors are repatriating to their countries. Irrespective of who is at the helm of our political ladder, a multi sectoral approach to development and a strong indigenisation policy is what we need!

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  14. useless pf gvt,u hav totally failed to run this country,i agree with post dated 28 of september 2015 that pf is a devil to the people of zambia

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