By Dr Lubinda Haabazoka

Now happening in Chililabombwe
$1 = k18.34

Note that exchange rates are determined by the interbank market. The market only operates from Monday to Sunday. Bureaus reprice even on weekends based on what is obtaining on the forex market during the weekend. Bureaus also consider black market rates and on a Monday, the interbank market will reprice based on the pace set by the bureaus during the weekend.

The black market is buying at k17 for a dollar so the rest is up to you to speculate…

Those that have been holding on to dollars since Monday have lost k4 for every dollar held.

Happy Sunday

4 COMMENTS

  1. Dr. Habazoka explain if this will affect the prices of essential commodities such as mealie meal, cooking oil, electricity in the short run in Zambia? The answer is obviously NO.

    If so, what’s motivating you share this news?

  2. Unfortunately rapid appreciation of any currency is just as bad as rapid depreciation from a business point of view because both are a form of instability.

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