The Zambian Kwacha has suffered further depreciation against other convertible currencies.

The Zambian Kwacha has suffered further depreciation against other convertible currencies.

A check by Breeze Business News at Bureaus in Chipata has found that the United States dollar is now buying at 6 Kwacha 80 Ngwee and selling at 6 Kwacha 97 Ngwee.

The UK pound is buying at 7 Kwacha 30 Ngwee and selling at 9 Kwacha 50 Ngwee while the Euro is buying at 8 Kwacha and selling at 8 Kwacha 20 Ngwee.

Meanwhile the business community involved in the import and supply of goods have complained of making losses due to the depreciation of the Zambian Kwacha.

They told Breeze News that they had imported and supplied goods in Eastern Province, but would not be in a position to import more goods because the prices have gone up.

The businesspersons indicated that the Zambian Kwacha has suffered a depreciation of about 30 per cent from 2011, when it was trading at 5 Kwacha 30 Ngwee against the United States dollar.

The Zambian Kwacha has been rated as one of the waste performing currencies in the world.

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