Pindula
Register Login

Zambian Kwacha Now Stronger Than The South African Rand

Zambian Kwacha Now Stronger Than The South African Rand

The Zambian Kwacha has gained value in recent months and is now stronger than the South African Rand and other currencies in the southern African region.

The Zambian Kwacha has continued to demonstrate its overall stability for a couple of months now.

The appreciation is largely attributed to low demand for dollars on the market.

A recent check shows that the Zambian Kwacha is now 1: 1.04 South African Rand while USD1 is now 16.30 Zambian Kwacha.

In contrast, the Zimbabwean dollar continues to lose value against other currencies causing great confusion as to what could be wrong in Zimbabwe. 

Former Deputy Minister of Information, Publicity and Broadcasting Services, Energy Mutodi expressed disappointment while comparing Zimbabwe and Zambian currencies. He said:

Difficult to explain why the Zim currency is on free fall even with better mineral resources, and hard-working & educated people.

While there is low demand for the United States dollar in Zambia, the reverse is true in Zimbabwe.

Everybody, that is, the government, business and private citizens, want to get hold of the United States dollar.

This is mainly because the Zimbabwean industry is collapsed. Almost everything used in Zimbabwe is imported since the local industry cannot meet local demand. Imports demand foreign currency.

The huge backlog at the Reserve Bank of Zimbabwe (RBZ) SME and the Main foreign currency auction done every Tuesday is evidence of the huge demand for the greenback. 

Some attribute the instability of the Zimbabwe dollar to “bad leadership” which they say has corroded public confidence in the local unit.

Meanwhile, as earlier reported by Pindula News, the RBZ is set to introduce gold coins on the 25th of July as a measure to stabilise the Zimbabwe dollar and to restore the investors’ and public’s value.

Share Article

Sponsored

28 Comments

Blue 1 month ago

Thats a lie meant to tarnish RTGS. zim currency is better than those kwachas.


mwenewazvo 1 month ago

ndanakidzwa nelast statement,Mari yerudzii inoperera paboarder senetwork.😂😂😂😂😂😂😂😂

Machiavelli 1 month ago

When we talk acceptance we refer to banking institutions. First and foremost USDollar is international currency. You take USD to a bank in Namibia you get either Namibian Dollar or Rand, which you can use in any shop. Same with Zambian Kwacha in RSA. We aren't talking about street money changers. You cannot take Zimbabwean RTGS to any bank outside Zimbabwe and exchange it for any currency. That's what's termed international acceptability. Not in the street please

Chirundu Town Resident 1 month ago

We do not accept Zambian Kwacha for payments

Money Changer 1 month ago

Musanyebera vanhu boss, stick to your lane Region kupi where the Zambian kwacha is accepted? Apa you even struggle to get USD accepted in Namibia!

Machiavelli 1 month ago

Better in what way? If the Zambian Kwacha is stronger than the South African Rand, no further evidence is required as to the strength of the Zambian currency and economy. Your Zimbabwe RTGS is not and will never accepted elsewhere for trade, while the Zambian Kwacha, Mozambique Meticails and SA rand are accepted within the region.

Mari yerudzii inoperera paBorder seNetwork?

😉 1 month ago

ko kunyararanhai bhruuuu unofa hre


Machiavelli 1 month ago

Someone needs to tutor Mutodi about banking and finance. It is all about TRUST. Zimbabwe may have mineral resources and educated citizens but it is lacking in leadership and economic stewardship. Beneficiaries of minerals are the elite and Chinese, not Zimbabwean povo. They are looting for personal benefit.

Furthermore economic policies are made and reversed with bewildering rapidity in Zimbabwe and that doesn't engender trust and confidence to investors. If Zimbabweans do not have confidence in their currency and government, why should foreign investors have faith in our system?

That's why the wheels have come off in this God-forsaken country


Chitova 1 month ago

pakaipa


Cde Gabarinocheka 1 month ago

Deeds & not words!
All talk & no work makes Jack a poor boy.


Kakistocracy🤣Muchakaka 1 month ago

And we still have self-styled Fundis and Nerds like Professor Vostro and Doctor Nostro clinging tightly to their posts but the economic chaos ichizhamba kuti "Utter Failures, Utter Failures" every single second of every minute.

Zimbabweans have suffered and vanhu vayaura...KUKAKA chaiko. Do the honorable vakuru.

ED and his cronies need to be like human beings...stone heartedness is not right. HH, Zambian President promised results. He was elected and months, not years, down the line they have signs of a recovering economy and currency. Muno kubva kuna president kusvika kukalast born kemuZanuPf kungovavata, kushishidzira vanhu nekuponda economy vanhu vachiyaura.

TAZOKAKA veduweeeee. Pasi nevanozvifunga ivo pachavo, vana vavo nehama dzavo vega. Pasi nevakamukira Chimurenga. Pasi nevanofarira kutambura kweruzhinji. Away with ZANUPF. The party that is ever campaigning. Since 1980 ZANUPF inongogara iri mu verbal campain mode...no action on the ground.

Pamberi neGolden Future. Pamberi neCCC.
# RegisterToVote
#And Vote


Sponsored

🚩 1 month ago

𝗧𝗵𝗲 𝗥𝗦𝗔 𝗥𝗮𝗻𝗱 𝗶𝘀 𝗴𝗼𝗶𝗻𝗴 𝘁𝗵𝗲 𝗭𝗶𝗺𝗯𝗮𝗯𝘄𝗲 𝘄𝗮𝘆, 𝗯𝗲𝗰𝗮𝘂𝘀𝗲 𝗼𝗳 𝗽𝗼𝗼𝗿 𝗹𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽. 𝗧𝗵𝗲 𝗻𝗲𝘄 𝗭𝗮𝗺𝗯𝗶𝗮𝗻 𝗴𝘃𝘁 𝗶𝘀 𝗶𝗻𝘀𝗽𝗶𝗿𝗶𝗻𝗴 𝗰𝗼𝗻𝗳𝗶𝗱𝗲𝗻𝗰𝗲 𝘁𝗼 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 , 𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝗮𝗻𝗱 𝗼𝘂𝘁𝘀𝗶𝗱𝗲 𝘄𝗼𝗿𝗹𝗱 𝗻𝗼 𝘄𝗼𝗻𝗱𝗲𝗿 𝘁𝗵𝗲 𝘀𝘁𝗿𝗲𝗻𝗴𝘁𝗵 𝗼𝗳 𝘁𝗵𝗲 𝗞𝘄𝗮𝗰𝗵𝗮. 𝗧𝗶𝗺𝗲 𝘁𝗼 𝗽𝗲𝗿𝘀𝘂𝗮𝗱𝗲 𝗼𝘂𝗿 𝗭𝗮𝗺𝗯𝗶𝗮𝗻 𝗽𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝘁𝗼 𝘀𝘁𝗲𝗽 𝗱𝗼𝘄𝗻 𝗮𝗻𝗱 𝗴𝗼 𝘁𝗼 𝘁𝗼 𝗵𝗶𝘀 𝗻𝗮𝘁𝗶𝘃𝗲 𝗰𝗼𝘂𝗻𝘁𝗿𝘆 𝗮𝗻𝗱 𝗿𝗲𝘀𝘁.


ZIMBA🇿🇼OG 1 month ago

ZAMBIAN knew what they wanted and HH was their best candidate of choice,,,, always good choice foster good results


Strong Currencies promote Imports 1 month ago

Botswana Pula is much stronger than the Rand but the Batswana import virtually everything from RSA.


bots 1 month ago

botswana is rich in diamonds,gold and beef,it exports these and get super higher price on world market thats why th Pula is so strong
paeconomy if th country exports more than importing it will strengthen its currency but if it does the opposite the currency looses value like rtgs

Anonymous 1 month ago

Yeah hatisikuramba kuti trust and confidence zvinodikwa pahurumende yenyu. Asi ma policies ehurumende kana achiita kut everyone ave involved mu economics zvinongoita wena, look at european dictators... mari dzavo dzaingova nepower and economy inoto booster...only human rights were violated. Even Gaddafi


Food for Thought 1 month ago

For the year 2023 the World Bank has reclassified Zambia from Low Middle Income to Low Income Status.


NKULULEKO 1 month ago

Yes coz the previous gvt left us in a mess, we are trying to recover from that. The reclasification will also enable Zambia to access help which it cant if its consider a middle income country

Gafa 1 month ago

Zanu is the only enemy and poison of this country.Dzingori nharo asi vanozviziva hutsinye havana moyo yevanhu.If citizens are suffering all is well with Zanu pf.Itori Satanism


Swagger 1 month ago

farmers we chased here went to Zambia.ZIMBABWE is now importing maize from Zambia and Mutodi is being surprised why kwacha is gaining value. Craaaazy


1 month ago

Zero! Commercial farmers do not grow maize for masses, but rather for their own feed stock as they see maize to be unprofitable. The bulk of maize consumed in Zambia and exported is largely grown by indigenous small scale farmers through input support from the central government.

Gafa 1 month ago

Zanu ine mapofu @Swagger.Ndivo vakazvikanyira vega vobvunza ani futi


Jah🇿🇼Tsvarie-07 1 month ago

HH is the first black President to enter the white house, he has support from the west 😀 isu va Putin tiripama 1...


Currency Trader 1 month ago

The Zambian Kwacha is now stronger than the Japanese Yen🤔🤔🤔


Mutongigava 1 month ago

Economy yenyika inogadzirwa nevene vayo


WILLIAM SONBOY CHINEMBIRI 1 month ago

I wishif if I were His Excellency Advocate President ED Mnangagwa. I would have taken Muzvinafundo wemari Mthuli Ncube to Zambia and dump him there so that he got lessons from his Zambian counterpart.

HOW ABOUT THAT MUZVINAFUNDO WEMARI MTHULI NCUBE ?

[VOTE CCC FOR REAL CHANGE].

Yours sincerely
William Sonboy CHINEMBIRI
[THE ORIGINAL BUSH LAWYER].


Oskid 1 month ago

Isai President anodiwa navanhu zvokuba ma votes hapana kwamoenda ED and Zanu lost elections only propelled by Chigumba and Malaba now ask them how to deal with the economy.



Leave a comment


Recent News


News Categories



Feedback