The Zambian Kwacha has continued appreciation against the USA Dollar due to mining companies buying the local currency to pay off thousands of pruned miners. This and last week, mines offloaded thousands of Zambian miners who they are still paying separation packages in local currency.
The government has also continued borrowing and flooding the market with dollars to give an impression that things are okay. Another factor that has made the Kwacha post some gains are sales by companies seeking to pay local salaries and taxes.
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