The Barclays Treasury Newsletter this morning reports that the Kwacha bounced back in late trades on Wednesday after earlier slipping to a new historical low, touching the psychological K5 800/USD level in a highly volatile session. The report further said that spurts of demand and supply characterised trading, with early dollar buying prompting a swift depreciation to a low of K5 780/5 800 by midmorning after the currency pair opened at K5 650/5 670 per USD.
The local currency made an unprecedented comeback of nearly 4% from market lows to close at K5560/5580 on dollar offloading from market players. Thus, this reduced the Kwacha’s year-to-date depreciation to 14.8% from 17% at previous close.
Volatility, exacerbated by relatively thin corporate flows, is likely to continue as market players trade cautiously. Although the Kwacha looks fundamentally bearish, occasional supply flows are expected to give the Kwacha relative resilience to the dollar. Technical support is pegged at K5 500/USD and resistance at K5 800/USD.
Recently the Kwacha has continued to fall under pressure to the dollar . Golden Coin Bureau De Change says the kwacha’s fall is being driven both by market forces and speculation.
Golden Coin Manager, Douglas Chilundu told ZNBC news that the 2009 budget announcement has stimulated businesses to start importing to meet contractual obligations.
Mr. Chilundu called on the central bank to stabilize the kwacha to a comfortable level of five thousand kwacha to one U.S. dollar.
Very good stuff! :d
yes
numbala 2
Please note that this is due to the global financial crisis [-([-([-([-(
Lets hope this trend continues
#3
But anyway it was also nice when i sent some few dollars just to be surprised that it was some big cash pa Z,i was mauless,no wonder one mans cup of tea can turn out to be poisonous to another
good sign.hopefully to continue
I don’t see any come back. The kwacha continues to fall. This is todays news: Kwacha continues plunge
By Business Reporter
The Kwacha yesterday continued weakening against the US dollar maintaining the levels of above K5,600 for buying and selling in most outlets.
A check at FX Africa Bureau de Change in Lusaka showed that the outlet was buying the dollar at K5, 600 and selling it at K5, 700.
Indo Zambia Bank was buying at K5,350 and selling at K5,600.
Forex King Bureau de Change was buying the dollar at K5,650 and selling at K5,750 while Struts Bureau de Change was buying the dollar at K5,600 and selling at K5,720.
Sterling Bureau de Change in Ndola was buying the dollar
I, personally dont see anything dramitic about this! Or am i missing something? The continued kwacha depreciation is alarming.
Hi all!! Its me blogging from Maz.
11. Ba Moz 😕
Atleast this is the story.. now bloggers may end up suggesting to the wind.
oohh so this is so much to boast of,lets get serious.
lets hope its not only 4 a day #:-s#:-sbut its a relief atleast
Jam@co
Ninebo mani. Wisakamana. This kwacha thing bufi. Just for an hour ati, “dramatic”? 😮
we need it to come down to 3,000. Thats dramatic!
Let it come down to K2500 and then we can proudly say dramatic comeback :d
Morning my lovey family
I think the Kwacha should stabilize at K5,000. We seem to be increasing our cross-boarder trading activities and a stable but slightly low currency will mean increased demand for our goods in foreign markets.
Also a stable currency will mean low volatility in the import of key industrial inputs (e.g Tractors in the agricultural industry).
Maybe that is why the Kwacha is plummeting. Probably because after the knew budget was unveiled, business are on the hurry to convert their Kwachas into USD so as to buy key inputs.
Big up to the dramatic comeback.
[email protected]
Goodmorning bloggers.
This is good news to begin the day with. Lets hope the come back is not short lived.:)>-
This must be causing a lot of hardship to the common man
Easily get excited for nothing.
As usual LT readers have totally no clue about markets, I guess you would do better to just stay witn Mpombo’s foodology stuff in other threads. A Currency market is a highly geared financial instrument and a 4% move for a Kwacha is a massive and dramatic move in just one day and trust me milllions have been made and lost by that move. That shows there is a big player scooping the kwacha and there is something going on and as a currency trader you need to serious investigate. There are opportunities in the works here. But for ordinary people all this is greek and this is not dramatic..I understand your level. But please try Mpombo’s foodlogy . Something you understand. Leave this to us
You are on the money money bro/sis… just the other day govt was saying they are concerned with the spiralling kwacha, then barey 48 hrs it rallies by 4% is that a coincedence or some hastily arranged intervention, me thinks it’s too soon to get hyper and issue prophecies on agric imports and exports without factual data. Ta
Is that dramatic,sum economists awe mwe.
Zambia is one of the few countries in the world were the currency’s rate means nothing to the common man. What difference does it make to a man in Kalingalinga whether the kwacha gains or not? Nevertheless, I hope we stabilize at K4, 500.
#22. Chinondo: But for ordinary people all this is greek and this is not dramatic..I understand your level. But please try Mpombo’s foodlogy . Something you understand. Leave this to us
That is very true. I did however look at the currency issue on a macro level rather than on a micro level (the currency market) not to say you accused me of anything.
I also agree with you that many people on this blog don’t understand the matter at hand on this thread which is why instead of stating a qualified opinion, they use the common Zambians or their own perceptions as a scape goat to defend things they cannot grasp an understand of currently.
Abab bantu balemona kwati tuli fipuba aini? The today the kwacha is worse than ever and then some imbecile is standing there talking dramatic?
Chinondo
Iwe Chinondo kaili funya data tumfwe efyo uletotokanya noti iminsula waunfwa.
#22 its all rubish.there is nothing dramatic when prices are going up on the other hand.what we need are serious policies to stablise the economy
I dont see any dramatic come back of the the Kwacha as reported in the press. The Kwacha current exchange rate levels with major currencies are still very high! Zambia is the only country in SADC which has such exchange rates apart from ZIM. It will take time, probably another 20years for the Kwacha to have an exchange rate of around K1,000 per US Dollar. The best way forward for Zambia and countries in the SADCC region is to have a unified currency like the Euro that can be called SADCC. 1 SADCC can be equivalent to 0.5 US dollar. How about that !
Things have gone to the dogs now…or may be the wind. Where are the image builders, they came at the wrong time; the time is now when they have to see what they were building
HAI, BABY C 😡
USD is on high demand, i got a few at K6000 just this morning. I dont know where we are hearding to
Kiswa
😡
Good morning brethren and sistren,
I don’t see any bouncing back of our currency. The Kwacha is still buoyng in the range of K5,800 and K5,850.
We want to see a situation where $1 will be equivalent to K1, just like what happened in 1972. Every thing is possible-if we cultivate a positive mind.
We need serious consideration on modalities to alleviate the depreciating currency.If only we can understand the situation from a global perspective the better for mother Zambia.
Lutiye feela!!!!!!!!!!!!!!!!!!!111
:-?:-?:-?:-?:-?:-?:-w:-w:-w
According to the study of economics,this news is a sign of economic growth in any country.My question is can we call it that in our beloved Zed?
OK, I just want to find out some information from a few bloggers who have made postings I do not understand so I will ask my question to:
-#17. Baby C
-#29. Free Mind
-#34. sHiMaPePo
To what benefit will it be to Zambia for the Kwacha to gain to the levels you have stated???
#34 SHIMAPEPO
With this Global economic crisis, it dont think the Kwacha will ever be equivalent to 1US Dollar like in 1972. What we need as a country and as SADCC is a regional currency like the Euro.
It matters less the ex-change rate even 10,000 to a dollar is okay the only thing it has to be stable
#39 LCK
So what you are saying is that even if it was 1 milion Kwacha per dollar, it matters less!
:o:o:-?
Problem is we blacks (chimps) like Zambians can’t innovate thus we spend whatever little Dollar we receive to purchase things that other nations make, from our wrist watches,mobile phones, bicycles etc. Invest in Scientific research then development will be seen and the dependance on other people’s products will be reduced and our Kwacha maybe stable, especially when we start exporting enough goods to other countries. For now a stable Kwacha will remain a nightmare, when we have even failed to use our comparative advantage in agric, good weather & arable land yet we busy importing maize.
interesting topic this is…..the country is very unstable at the moment.I dont expect anything good to come out of a govt that has failed to deal with Zimbabweans!! Just imagine that people in Southern Province are now forced to buy mealie meal using NRCs just to prove that they are Zambians!!!this is pathetic. and now they are feeding us with such fake stories as DRAMATIC COMEBACK of the kwacha!!!!absolute nonsense!!!at the moment we are still mourning Levy because someone that came into power lying about following the late President’s legacy has let us down..
41. Chimpanzee
malabishi!!
Calling his own mother, father and other family members Chimps!!
I wish you could tell your Mother and father that!! Your mother would slap you right back to where you came from. You unthankful filthy and m..f… creature
#22 Chinondo
I appreciate your contribution. You seem to know what you’re talking about. It is not hard to tell who is the Jack of his trade on the blog.
I personally know only the basics of economics but it takes deeper insight to comment sensibly about these things.
#38 Free Mind
I think I understand #39 LCK’s point. If we maintain a stable currency, we will always have a favourable exchange rate for Zambia, regardless of the exchange rate.
Ba LT, mwayesako ka reporting kwati ba Financial Times!!
Nice one but this development doesn’t help Broadband Zulu or Intercourse Banda find partures for their goats in Chadiza.
FMC
Its a positive development that will instil growth and confidence in the economy of Zambia. The stability will make planning easier and that is necessary due to the fact that as the economy of the nation grows, benefits will be translated into strong value of the local currency. My opinion!
#41. :d:d
Am glad i have a parent(s) on the blog!!!! Questions is, why do you we fail to innovate and always heavily depend on other people’s technology?? Dont you realise that makes us chips- collect and depend on wild friuts (not self made food) found in the jungle.
Think about it
#46. Baby C: Its a positive development that will instil growth and confidence in the economy of Zambia. The stability will make planning easier and that is necessary due to the fact that as the economy of the nation grows, benefits will be translated into strong value of the local currency. My opinion!
That is a good opinion and I respect it. But in post #17 , you said “Let it come down to K2500 and then we can proudly say dramatic comeback“. This seems counter productive to me. Maybe I was the only one listening here but when RB went o Kenya, Malawi and Ethiopia, he was mostly talking about cross-boarder trade. When he went to [tbc
cont. #48
When he went to Kenya, he talked about Zambia growing enough maize to fill the local consumption needs as well as Kenya’s maize needs. When he went to Malawi, he talked about Zambia and Malawi trading in agriculture. When he went to Ethiopia, he talked about making Lusaka Int. Airport a hub in the Southern African region. You and others (Ba Moze, Jam@co, Nine Chile, Ba Maureen, etc) made fun of him and criticized him but that is besides the point. My point is for a long time, the ZMK has stabilized at roughly K5,000. In many of RB state visits, he has talked of a policy concerning trade. If the ZMK gains to K2,500, it will make our goods more expensive and[tbc
Any folks on this blog who attended Nkumbi International College in Kapiri-Mposhi from 1990-1994?
cont. #49
and our goods will fail to compete in foreign markets (e.g Malawi, Tanzania). If our goods fail to compete, it will mean no industry expansion and thus less jobs.
The other thing that will happen is more imports will come into the country and will be relatively cheaper than the local goods leading to losses from local industries and thus job losses.
What we need is a stable currency at around K5,000 and an increase in cross border trade which will benefit our nation. A slightly low but stable currency will surely result in increased export activities and tourism traffic in the Zambian business environment.
Just my opinion.
47. Chimpanzee
Ask your mother and father that question!!
Are they still leaving in the bush n a k e d? And you can not go there because you will feel embarrassed!
Just continue embarrassing your mother and father on the Internet!! Its a Curse that you will carry all your life believe me.
We are not even a the end of the beginning. When the dollar begins to drop, you will see some real action.<:-p
#37,
Free-Market-Capitlst, from the little knowledge that I have about Economics,I think:
1. We will have a stable foreign exchage rate.
2. Our currency will have a high foreign demand
3. The inflation rate will come down to one digit
4. The demand for the Dollar will be lower
5. It will be very affordable to purchase goods such as machinery, equipment from other countries.
The disadvantage I can foresee is, the mining industry and the exporting companies will be disadvantaged.(Mark me out of 5 so I learn more).
#38,
Free mind, thanx for that point.
Our Kwacha has not made a dramatic come back. In fact it will depreciate further coz at the moment Dollar is in short supply and there is much imports coming into the country. The other contributing factor is the importation of maize and petroleum products. The mines made their dollars and kept it outside and they bring little just to meet their operational obligations. Has ZCCM Investment Holdings bin a stronger position it would have been Billions of Dollars at BOZ and to mitigate the Global Financial Melt Down, just easilyn offload enough Dollar into the financial market and this would have reduced pressure on the kwacha. As for sometime to come brace for further depreciation of ZMK.
#54. sHiMaPePo: 1. We will have a stable foreign exchage rate.
That is not necessarily true but in this case (excluding external factors) on this particular point, I will say you are right.
2. Our currency will have a high foreign demand
That is not necessarily true. Demand for a currency depends on a lot of things and in Zambia’s case, it depends on whether we are an importing or exporting nation. To illustrate this point, I will give the example of China. China keeps its currency artificially low so as to increase its export earnings. In the USA markets, local goods cannot compete simply because Chinese goods are less expensive. The reason[tbc
I would also like to know the reason why the Pound Sterling is at the highier exchange rate as compared to the US Dollar, and yet, the same Dollar seems to be on highier demand globally than any other currency?
Free-Market-Capitlst, advise.
How much is a kwacha to pound
cont. #56
The reason of China’s low priced goods can be attributed to many things like low production costs, low shipping costs but currency also has something to do with it. The more Chinese goods they buy, the more Chinese currency will be demanded.
3. The inflation rate will come down to one digit
In all honesty, I do not see the correlation between inflation and a strong currency. I need to do a little more research on this so I will say you are right on this one.
4. The demand for the Dollar will be lower
Not necessarily true as a strong ZMK will result in increased demand for imported goods. Increased demand for imported goods will mean [tbc
cont. #58
mean more demand for the USD so as to obtain imported goods (USD is the most widely accepted currency in the world).
5. It will be very affordable to purchase goods such as machinery, equipment from other countries.
That is a very true point but what are the long run effects. If we purchase machinery such as tractors for farms, it wont be easy to sell the produce (e.g Tobacco) in foreign markets if the ZMK is too strong.
Otherwise, that is a good understanding of economics. I too only have a basic understanding of economics. LT should be a place to share ideas and learn from them rather than attacking each other.
#56,
Go on! go on! I am learning from, and ejoying your comprehensive and precise explanation.
#57. sHiMaPePo: I would also like to know the reason why the Pound Sterling is at the highier exchange rate as compared to the US Dollar, and yet, the same Dollar seems to be on highier demand globally than any other currency?
That is a good question and in my opinion, this is what I think is the reason.
The reason is probably because of two things.
1. The bond market in Britain. Britain is probably deemed to have a stable economy. This being seen would result in investments in the bond market of the British economy by foreign institutions.
2. The Pound Sterling (just like the USD) is as widely accepted as the USD all over the world. [tbc
cont. #61
Go to most countries and the three currencies widely accepted are
-US DOLLAR
-POUND STERLING
-EURO.
That could be the reason.
Continued:
All need to is export finished products not raw products.For as long BOZ does not offload a large amount in US$ say US$20m in trnches of 2 lets us forget ZMK stablizing. BOZ took long to react mid last year. We should expect to be be trading in the range of K5,250 to K6,000 for most part of this year.Its no longer a question of leaving everything to the market forces, GRZ through BOZ should do something coz even the much talked about fuel price reductions will become useless as more ZMK will be needed to buy dollars for fuel. No wonder the Pump price for Petrol is in the rage of K5,800 to K5,820. If Big economies are intervening why can’t we do the same. Its a known crisis.
#58,
“The more Chinese goods they buy, the more Chinese currency will be demanded”, but I have reservation, are the Chinese goods not sold in US Dollars when exporting to other countries- How can the Yuan be on high demand, then?
What come back?
#61,
Free-Market-Capitlst, thanx alot for the rich info.
Yes, it is true, we should not use LT to attack one another. Instead, lets use it to teach and advise one another- and of course making friends, and not fiends!
Hi bloggers missed you. I havent been around for a while so whats cooking? This must be an interesting topic. Did you say your currency is trading at K5’800 to the US$? AMAZING!!!
Am told you have K50’000 notes so please kindly advice me on what one can buy with that huge amount of cash. Here in Mzansi 50’000 grand is NO salary for a squatter. People from impoverished neighbouring countries come here to buy second hand Japanese vehicles in Durban with that amount of money. Dont you think it might be wise to adopt the rand as the regional currency like what the Zimbabweans have done? Weaker currencies are a menace to regional development and hence, need to phase out such.
Sister Phum, While the notion of having a single currency is welcome, other factors have to be taken into account, such as who will be in charge of the monetary policy, a single currency would leave others vulnerable if SA goes down the Zambian on the street would catch the sneeze and vice-versa, if our Central Bank wanted to bail out a local bank SA would be in a position to block that etc, in short such will be highly benefitial to the Boer ran South African industry and not vice-versa SA would be our little USA intervening at every opportunity in our local economies…. in view of such it wouldn’t be such a welcome move, Zim had no choice and i think the move maybe temprol
#64. sHiMaPePo: are the Chinese goods not sold in US Dollars when exporting to other countries- How can the Yuan be on high demand, then?
Good question. Well the way I see it is to buy the goods from China, you need to convert the USD to Yuan. An example is if you are to buy goods from Malawi (considering the ZMK is accepted in Malawi), you will have to first convert your ZMK to Malawian Kwacha and then buy the goods.
The demand probably has to do with trade. If the currency is lower and trade is up, more demand for the Yuan will increase so as to buy the goods from China.
I have to go.It was good to have dialogue with you. Until next time. Stay safe
#22 Chinondo
You said
“A Currency market is a highly geared financial instrument and a 4% move for a Kwacha is a massive and dramatic move in just one day and trust me milllions have been made and lost by that move.”
Are you in possession of data showing the intra-day volatility of the Kwacha over a given period? If you collected such data on a regular basis you may find that the volatility mentioned in yesterday’s markets is not much higher than that in other trading sessions. As much as currency trading is highly geared (as you rightly stated) it is also highly volatile and many traders are known to have had their fingers burnt by its negative effects.
Where are my other beloved bloggers, kanshi? 😕
This issue is very important we have to look at it criticaly and come up with possible solutions.Our currency has suffered terribly of late.But in my view i cant see any dramatic come back here.I thought maybe it has come to 3500 or so.Lets be serious please.As at now there is peace and joy on the blogg,but a confused chap will come and start talking about his tribalism nonsense.Ulya kamo kalisokoka mumutwe.
serously what dramastic come back is there ha![-(
#68,
Stay safe too, and God bless!
Sawubona No.65( Daisy) s’khiphani sisy? Mina bengicabanga ukuthi emali yaseZambia inamandla kakhulu, kodwa ifana njengo iyaseZimbabwe. Akusizi lutho lokhu noma sichelwa ukuthi khona eZambia nina anizwi ukuhlanyiswa kwe economy yoMhlaba. Its not true guys kodwa ukunyakaziswa komhlaba affects even bigger economies. Niqhambelani amanga?
#71,
Mwapola mune Chewe? Nebo nachiba ndeyelenganya nati nalimo uli mubusanshi uko ku bulaya?
:d:d
Shimapepo muli shani mukwai? Ndifye bwino kwacha yesu fye ala yapona ububi sana.Kalebalika mukwai.
Fellow bloggers why dnt u notice me sumtimes kanshi
Thanks to all who have made constructive comments. Just been reading them and I have learnt from them.
To those wondering whether ZMK will bounce back significantly, may be we can look at the root cause of the depreaciation. If there’s a posisibility that whatever root causes can be and will be reversed in future, then there’s hope that the ZMK will bounce back. e.g
1) Global recession – Cashflow from copper will increase as demand for copper will go up
2) Maize imports – these will reduce after the harvest season.
3) Speculation – this will reduce as forex supply increase (see above pts)
4)Agro exports – will bring more dollars after harvest season
etc etc
#79 Contd.
Also we need to remember that the primary crisis is finacial – the credit crunch as those with money withdraw from the wholesale money market.
This caused the initial and major depreciation of ZMK as global fund managers withdrew from the Zed Govt bonds. This was not limited to Zambia. Many countries suffered from this. Some countries lieke Iceland collapsed. Others like Pakistan rushed to the IMF.
The second crisis is the global recession, which is a result of the financial crisis as businesses and individuals no longer have credit for doing business. This second wave hit our copper exports and reduced earnings for the Govt. All nations have been affected.
There’s no come back here.Rb has no nothing to offer.Zambia should export more especially food.People can’t stop eating even if we are in economic crisis.Zambia haa a pontetial to have one of strongest economic country in africa.The problem is that govt depend too much on copper.In zed we can grow everything which can feed the all africa and part of the Europe.Hence more foreigh exchange.
But it seems we’ve people who can’t think well in govt.
There’s no come back here.Rb has no nothing to offer.Zambia should export more especially food.People can’t stop eating even if we are in economic crisis.Zambia has a pontetial to be one of strongest economic country in africa.The problem is that govt depend too much on copper.In zed we can grow everything which can feed the all africa and part of the Europe.Hence more foreigh exchange.
But it seems we’ve people who can’t think well in govt
#80 contd
Therefore solving the credit crisis will have the biggest impact on forex as it will free up global capital. This is what Obama and team are working on. Unless the credit market bounces back, there will be no money for businesses and consumers. this is why, here in the UK, even though the UK£ has depreciated to reord levels against the US $ and Euro, exports are still low because there’s no one out there to buy the goods. manufacturers have began asking the Govt for support.
Similarly, cheap Zed goods may not be bought out there if foreign consumers have no money to buy them. The big gain in Zforex will come when the financial crisis is solved and the global recession ends.
#50 non Zambian Zambian
i attended Nkumbi in the later years,i was just happy to see you ask about it. the sad news is that the longest serving principal there Mr Muntanga passed away recently,he was still serving as principal at the time of his death.
Bachinondo Imiponto iyoo.Lukeni Ifidata eyo tulefwaya Zebige not tumajagoni.Kwacha ups and downs only affects the same politicians with life continues we don’t see any change.
dramatic my foot. Why is a 4 percent rise in 1 day described as dramatic compared to a 58 percent fall over 90 days? It’s nothing if it cannot be sustained for more than 14 days.
so the people with the dollar accounts are smiling all the was to the bank!!!
I do not understand the whole 4% rise crap and commosion and ecitement that pipo are prtraying! There is nothing to celebrate in this dump hole! The whole economy is f%^k&d! How can you celebrate when inflation is at 14% and doller going to 5300 when Mwanawasa was arround barely 3 months ago it was 3800!!! Crap!!
LusakaTimes, Please dont feed us with Times of Zambia nonesense. Your own dollar convertor is telling us that the kwacha dollar rate is 5795 yet you are sending this rubbish from Times. Todays rate at the Bureau is 5,805 selling what dramatic gain is times talking about?
LET IT CONTINUE FALLING UP TO K6000 PER USD, I SHALL BE THE HAPPIEST.
k200 APPRECIATION IS GOOD IN A DAY. IF YOU WERE TO IMPORT A CAR FROM JAPAN COSTING $5000 YOU WOULD SAVE k1,000,000. THATS COOL
PF arogancy,illiteracy demonstrations,election petitions are the cause of this currency disaster.
This is a good time to pay your kwacha bills if you trade using the dollar!
the value of a currency is a measure of the realtive health or lack of in an economy. The falling Kwacha and general volatility of our currency should be a cause for concern. Our currency has lost more than 20% of its value in the space of a few months, this makes it even more difficult to run a business pa Zed in addition to all the other problems. Uluse ichalo chesu!! These are the issues we shoudl be discussing, high government borrowing to what end? Where are the borrowed funds spent. Effectively the government borrowing from banks through treasury bills cuts out local businesses from accessing credit. These are the issues we should be discussing. God bless the people of Zambia!!
:)>-:-h:-h
The Kwacha is the most valuable and reliable currency in the world. When you people claim its unstable, us in the ruling party are enjoying massive support from the rural voters because the impact of the depreciation of the Kwacha is not known or felt by our voters.
Am glad i belong to the mighty MMD. Even if the dollar will be at K11,000 in 2011 will shall still WIN, WIN,WIIIIIIIIIIIIIIIN
Not with ZMK i see we are not going any were. its times to send more in your Zambian bank account
all that has happened is GRZ has instructed BoZ to dump its limited reserves on to the FX market. Once the dollars dry up we will be back to K5,800 and raising. You can not buck the market…watch this space, by Q3 we will be talking about K7,000 to the usd
The Kwacha will not recover in the short term ..It will reach K6,500 to 1 US$ before it stabilises
Iwe Chi Chinondo, you know that you can enlighten a lot of us on finacial markets without necessarily sounding sarcastic. You can educate us without sounding like the late Penza, who talked of macro/micro theories that didn’t mean a s..t to the ordinary man on the street. Don’t show off with top layer knowledge. If you are so smart why don’t you go back home and fix the economy? Cha tile…
All the economic indicators in Zambia are fake….this country will never see development with the sitting allowance syndrome.
We are lucky copper production has been disturbed in Australia because of the floods. What has this got to do with us you may ask. Well, whenever a major player in metal production is disturbed, buyer shift their attention to another seller. Zambian happens to be a copper producer and hence copper buyers are eyeing Zambia. This imaginary demand for copper pushes our stocks up resulting in the stabilization of our currency.
Watch what is going to happen when there is an earthquake in places like Chile (I dont wish them one but this is real life).
Unified currency as 29 says cannot work in the region especially where economies are very weak like in Zambia.For Zambia to survive is to support our Agricultural,Manufacturing and indeed the tourism industry.
Whether you unify the currency to SADC 1 or whatever you want to call it nothing will help zambia.Hard work is the answer.
Stop using “Wall street” English. “in a highly volatile session ” and “Kwacha looks fundamentally bearish” are over the top for “Katondo Street.
i don’t care.
One Hundred Zambia Kwacha buys x1 Masuku!
my foot! 😮
Things will be/get worse..
Wait until One Hundred kwacha will buy you x1 inchinkubala.
My other foot!!!..
Credit crunch has no discriminatory boundaries mwebena chalo..
Watch this space. Things will get worse..
Wait until One Hundred kwacha will buy you x1 inchinkubala.
My other foot!!!..
Credit crunch has no discriminatory boundaries mwebena chalo..
Trading at K 5,580 is not a dramatic comeback.
Hi Phumzile,
I see you back!! well, first things first, i dont understand Zulu, am very Zambian. you comment
#74 and 67
K50,000 can definately not get you a car, its equivalent to like a R100. Money for a few pick up things. You are actually right, if we shared a common currency, perhaps it would be stronger and would prompt some development.
Have a phuza Friday!!
Ps: how did you find yourself on this blog??
Hi Daisy,
Thanks for the info. I am just keen to know more about Zambia. I thought you’re Zulu as well.
Concerning how i came to know about this blog, i accidentally bumped into it while searching for information on tourism. Cyberpower you know!
Have a great friday too!!!!!!!!!!!
CHEERS!
Good news for the Kwacha.
Well done LT.
Good news for the Kwacha.
Well done LT..
we mwana wandi isafye kuno mushi tulelima fye, ifi ficome back fya kwacha is an idea the rich people who live on foreign exchange… it does not affect us at all.
smApcR