BANK of Zambia deputy governor for operations Dr Francis Chipimo says the central bank is hoping to see a stable exchange rate this year coupled with increased exports. Dr Chipimo attributed the continued depreciation of the Kwacha since last year to the increased demand for dollars amid a drop on the supply side. According to the Bank of Zambia rates, on Friday the dollar was buying at K18.3791 and selling at K18.4241 as at 15:30 hours. In an interview, Dr Chipimo explained that towards the end of last year, the country saw an increased demand for imported products such as fertilizer and drugs as well as fuel payments. “You will recall that you began to see the sort of turn…...

To continue reading this premium content, login to your account or Subscribe to our ePaper using the buttons below.
Log In Subscribe