Zambia’s Kwacha Jumps Amid Moves to Cut Dollars From Local Trade
Zambia’s kwacha jumped the most in four months amid plans to introduce regulations restricting the use of foreign currency in the local economy aimed at fighting inflation.
“When people basically are functioning significantly in dollars, then obviously the tools which we have to actually carrying out our mandate are blunted,” Bank of Zambia Deputy Governor Francis Chipimo said Friday. “External shocks are also in a way exacerbated in our market.”