Zambia warns speculators the kwacha is on the up

Zambian currency will soon appreciate, says central bank


The Bank of Zambia (BoZ) yesterday warned currency speculators that the hard currency price of the Zambian kwacha is close to bottoming out, saying it expects the currency to appreciate soon in line with the country's improving economic fundamentals.

Low copper prices, which the BoZ said have averaged around $6,500 per tonne since the start of 2014, have played a large part in the drop in the kwacha's value. They have now recovered to almost $7,000, however.

The Zambian economy is set for 7%

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