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The Kwacha today reached a record low against the US dollar, trading at K7.035 per dollar.
The Kwacha was trading at K 6.9610 this afternoon in Lusaka.
That extended losses in May to 9.4 percent. This as low copper prices curbed foreign-exchange supply.
The price of copper, which accounts for about 70 percent of Zambia’s foreign-exchange earnings, has declined 6 percent this year.
Zambia Revenue Authority withheld more than $500 million in value-added tax repayments to mines, saying they didn’t comply with rules requiring import certificates from the countries their copper ends up in.
qfm Radio
yaba……thngs ar bad in our country
it should go up to atleast K8 so that it gives more time to our economical managers to turn it round then they will have proven to me that they deserve my vote.
So what????