By Merlyn Mwanza
The Kwacha has continued its downward spiral against the United States Dollar, losing its value by approximately 11.46 percent in the last two months.
On October 21, 2022 the Dollar was selling at K15.98167 and on November 21, 2022 the sell was at K16.65813 and on December 21, 2022 it was selling at an average K18.05.
When the local currency depreciates, the imports (goods and services brought in from outside), especially for an import oriented economy like Zambia, become more expensive as people need more Kwachas for any Dollar. This in turn results in hiked prices on the imported goods brought into the country thereby raising the cost of living further for the local people.
