The Zambian Kwacha has depreciated after posting some gains last week.

The Zambian Kwacha has again depreciated against other convertible currencies.
This is barely four days after posting gains two days in a row on Wednesday and Thursday last week.
A check by Breeze Business News this morning, found the US dollar trading at 12 Kwacha 48 Ngwee, the British Pound at 18 Kwacha 99 Ngwee while the Euro was trading at 14 Kwacha.
Meanwhile prices of mealie meal in Chipata have been increased by between two and three Kwacha.
A check by Breeze News in the first and second class trading areas, found that a 25 Kilogramme bag, which was being sold at 68 Kwacha is now 70 Kwacha.
Traders told Breeze Business News that the increase has been sparked by an upward adjustment in wholesale prices of the commodity.
The increase comes despite calls from government to millers not to increase the prices.
Meanwhile Millers Association of Zambia MAZ President Allan Sakala has maintained that his association has resolved to increase the price of Mealie Meal by 10 and 15 Kwacha on a 25 Kilogram bag effective this week.
Mr. Sakala told Breeze News this morning that the increment is due to high production costs as a result of load shedding.
Mr. Sakala however, says that the association will hold another meeting tomorrow to make a final decision following governments’ call not to increase.

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