THE Zambian Kwacha has continued to gain strength against major convertible currencies, reaching K18.6 against the US dollar as of close of business yesterday. For some months now, the Kwacha has been hovering between K19 and K20 to a dollar, a pattern some economists have described as “unstable”. In February this year, the Kwacha hit K18.4, but it was not long before the currency slipped back to the K19-K20 range. The last time the Kwacha traded below K18 to a dollar was in June 2023, when it hit K17.75 before rising sharply to about K28 to a dollar in November 2023. According to Absa foreign exchange rates, the dollar is buying at K18.65 and selling at K19.02. Zanaco rates, on...
