Depreciation Of The Kwacha Attributed To Importation Of Power

By Michael Kaluba

Economist Chibamba Kanyama has attributed the depreciation of the kwacha against the US dollar to the importation of electricity from South Africa.

The kwacha is trading at k14 against the US dollar from k13.

Mr. Kanyamna tells phoenix business news that this is because Zambia is purchasing the power in US dollars.

He however says that a further depreciation of the local currency is not expected if no more power imports are made.

PHOENIX NEWS

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