Zambia's currency is enjoying its best run in nearly two years, buoyed by a surge in copper output and tighter monetary discipline.
The kwacha of Zambia has soared to its highest level in almost two years, on the hope that the copper industry will recover and that investor confidence in the second-largest producer of the metal will be restored in Africa. Early October saw the currency gain 0.7 to approximately 22.76 per US dollar, increasing its year-to-date gains to approximately 23, as per Bloomberg figures on October 10.
It has climbed the most among African currencies so far this year, according to a Bloomberg report.