By Kamuti Muyambela
The Zambian Kwacha has continued its recent depreciation against the United States Dollar, breaching the K17 to $1 psychological barrier in several Bureau De Change outlets.
Other currencies like the British Pound, South African Rand, the Euro and Botswana’s Pula have also made gains against the local currency.
The depreciation goes against the trend witnessed towards the end of former president Edgar Lungu’s tenure and the sharp appreciation when President Hakainde Hichilema was just pronounced as winner in the August 2021 elections.
President Hichilema had promised a sharp appreciation of the local currency on account of the confidence his election would instil into the economy.
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