{"id":91488,"date":"2024-02-26T11:20:25","date_gmt":"2024-02-26T09:20:25","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zambias-kwacha-is-the-best-performing-currency-in-africa-in-2024"},"modified":"2024-02-26T14:49:02","modified_gmt":"2024-02-26T12:49:02","slug":"zambias-kwacha-is-the-best-performing-currency-in-africa-in-2024","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/zambias-kwacha-is-the-best-performing-currency-in-africa-in-2024","title":{"rendered":"Zambia\u2019s Kwacha Is The Best Performing Currency In Africa In 2024"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>Zambia\u2019s Kwacha is Africa\u2019s best-performing currency against the United States dollar so far this year after the Bank of Zambia (central bank) sharply tightened monetary policy.<\/p>\n<p>As reported by <b>ZimLive<\/b>, the Kwacha has rallied 13.8% to 22.8 against the US dollar in 2024, according to LSEG data.<\/p>\n<p>This came after the Bank of Zambia raised commercial banks\u2019 reserve ratios and then hiked interest rates earlier this month, in a bid to reverse a decline in the currency that had pushed up inflation.<\/p>\n<p>Danny Greef, Co-Head of Africa at research firm ETM Analytics, said \u201cThe Kwacha\u2019s performance this year has been remarkable\u201d.<\/p>\n<p>Analysts said the Kwacha would strengthen sustainably only if the country attracts more foreign investment.<\/p>\n<p>Zambian officials have blamed the country\u2019s stalled debt restructuring, now in its fourth year, for preventing overseas investment and weakening the Kwacha.<\/p>\n<p>However, copper production, Zambia\u2019s major foreign exchange earner, has also fallen despite government efforts to boost the sector.<\/p>\n<p>Speaking at a public forum last week on Tuesday, Bank of Zambia governor Denny Kalyalya said:<\/p>\n<p>The measures that we have taken&#8230; are meant to stem some of the demand, which we thought was excessive as we anticipate supply, which mainly comes from the mining sector.<\/p>\n<p>The Kwacha weakened slightly last week from 22.5 to $1 but was still more than 20% stronger than the record low of 27.23 reached on February 6.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/zimbabwe\">Zimbabwe<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. Zambia\u2019s Kwacha is Africa\u2019s best-performing currency against the United States dollar so far this year after the Bank of Zambia (central bank) sharply tightened monetary policy. As reported by ZimLive, the Kwacha has rallied 13.8% to 22.8 against the US dollar in 2024, according to LSEG data. This came after the Bank [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":91487,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,16454,664,19],"class_list":{"0":"post-91488","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-kwacha","12":"tag-zambia","13":"tag-zimbabwe"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zambia\u2019s Kwacha Is The Best Performing Currency In Africa In 2024 - zimbabwe<\/title>\n<meta name=\"description\" content=\"Zambia\u2019s Kwacha is Africa\u2019s best-performing currency against the United States dollar so far this year after the Bank of ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zambias-kwacha-is-the-best-performing-currency-in-africa-in-2024\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zambia\u2019s Kwacha Is The Best Performing Currency In Africa In 2024\" \/>\n<meta property=\"og:description\" content=\"Zambia\u2019s Kwacha is Africa\u2019s best-performing currency against the United States dollar so far this year after the Bank of ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zambias-kwacha-is-the-best-performing-currency-in-africa-in-2024\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-26T09:20:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-26T12:49:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/02\/sm_1708935130.642196.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zambias-kwacha-is-the-best-performing-currency-in-africa-in-2024\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zambias-kwacha-is-the-best-performing-currency-in-africa-in-2024\",\"name\":\"Zambia\u2019s Kwacha Is The Best Performing Currency In Africa In 2024 - 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