Zambian Kwacha Becoming One Of The Strongest Currencies

For close to three decades, Zambia’s currency would buy you more U.S. dollars than South Africa’s rand.

The kwacha’s steep decline in the past five years has changed that: it’s been trading on par with the rand since the end of last year.

That’s driving up costs in a country that buys almost a third of its imports from South Africa, which, in turn, pays dollars for most of the goods it purchases abroad.