Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Zambian Kwacha Falls to 3 1/2-Year Low on Importer Dollar Buying

Zambia’s kwacha declined to a 3 1/2-year low against the dollar as companies bought foreign currency to pay for imports.

The kwacha dropped as much as 1.5 percent and traded 0.9 percent weaker at 5.40 a dollar as of 3:01 p.m. in the capital, Lusaka. The currency has weakened 3.3 percent since Jan. 25. Zambia rebased the kwacha on Jan. 1, removing three zeros.

Zambian companies are buying foreign currency to replenish inventories depleted during December trading, said Michael Keenan, a sub-Saharan Africa strategist at Absa Group Ltd. The currency has declined 3.9 percent this year, the sixth-worst performance out of 24 African currencies monitored by Bloomberg.

“There is some seasonal corporate demand for dollars,” he said by phone from Johannesburg. “Companies are buying currency after the quiet season” in December.

The Bank of Zambia left its benchmark policy rate unchanged today at 9.25 percent.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.