GOVERNOR Dr Denny Kalyalya says the Central Bank released US$300 million on to the market around the second quarter of this year, largely from mining sector tax receipts, in a bid to moderate exchange rate volatility. And Dr Kalyalya says the country’s foreign reserves have reduced to $2.7 billion of import cover from 2.9 billion dollars as at end of March. Meanwhile, Dr Kalyalya said the Central Bank’s Monetary Policy Committee decided to increase the Monetary Policy rate by 50 basis point. Announcing the Monetary Policy Rate, Wednesday, Dr Kalyalya said the Bank of Zambia has continued to provide liquidity to the market. “Whilst the Kwacha appreciated by 4.8 percent against the US dollar in the second quarter, it depreciated...