Zambian kwacha will recover this year: minister

ZAMBIA’S kwacha currency will recover this year due to an increase in the price of copper and steps by the central bank to preserve foreign exchange reserves, the finance minister said on Tuesday.“The hard currency earnings will improve as the fiscal year progresses, especially from the mining sector, as volumes of copper increase and as prices conceivably inch upwards,” Minister Alexander Chikwanda told parliament on Tuesday.

The currency of Africa’s second largest copper producer weakened around 1.4 percent to 6.98 against the US dollar by 1413 GM. — Reuters