THE continued appreciation of the Zambian kwacha against the United States dollar is becoming increasingly difficult to dismiss as mere luck or temporary market excitement. The local currency closing at around K17.9 per dollar, and being ranked among the best performing currencies in the first quarter of 2026, is a significant economic development that deserves objective acknowledgment. According to Bank of Zambia Governor Dr Denny Kalyalya, the kwacha appreciated by 14.8 percent against the US dollar in the first quarter of 2026, driven mainly by strong inflows from the mining sector and foreign financial institutions. As of May 11, the year-to-date appreciation stood at 14.53 percent. Mining companies reportedly supplied hundreds of millions of dollars into the market while foreign…
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