Currencies

Zambia’s Kwacha Hits Highest Since 2024 as Copper Demand Soars

Zambian kwacha banknotes.
Photographer: Luke Dray/Bloomberg

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By Mpho Hlakudi

October 10, 2025 at 1:14 PM UTC

Zambia’s currency rose to the highest level in almost two years, extending a rally driven by confidence in the country’s copper industry.

The kwacha advanced 0.7% to 22.76 against the dollar, the highest since February 2024. It has climbed the most among African currencies so far this year, having risen 23%.