Bank of Zambia will not intervene to help kwacha

The governor of the central bank of Zambia said on Friday he expected the kwacha to go on falling against the dollar and his bank would not waste resources on trying to intervene and stop the slide.

Jacob Mwanza told a media seminar it was not surprising the kwacha was weak against the US currency, since the US economy had remained robust and demand for dollars was strong."We will not intervene. That is a waste of resources, it will not change the trend," Mwanza told reporters in his first add