Bank of Zambia concerned as local business charge in forex

The Bank of Zambia is concerned that some businesses are charging for local goods in foreign currency, undermining efforts to stabilise the economy and putting pressure on the kwacha exchange rate, it said on Tuesday.

The bank issued the statement after the kwacha had fallen 1 percent to 9.9400 against the dollar, in what traders said was panic demand partly sparked by concerns over job losses in the mining sector.

reuters