The Kwacha was embarrassingly rated as the worst perfuming currency in the world. Sata and PF Govt have failed indeed. The Kwacha has continued bleeding and has now lost value to the extent which no one thought was possible. By close of business yesterday March 19, 2014, one Dollar was selling at K6.4014 (K6400 unrebased) at the Interbank Foreign Exchange. One British Pound was selling at K10. 6369 (K10, 630 unreleased).Last week, the Bank of Zambia (BoZ) lied that it injected US$178.0 million into the market as a measure to moderate the volatility in the foreign exchange market and support the relative low supply of foreign exchange in the country. On Tuesday, the Kwacha was embarrassingly rated as the worst perfuming currency in the world.
Posted on: Thu, 20 Mar 2014 02:38:54 +0000