Zambia’s kwacha falls sharply against US dollar

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Reuters) – Zambia’s kwacha fell more than 1 percent against the dollar to a record low on Friday as the dollar strengthened globally, traders said.

The kwacha was trading at 7.3250 against the dollar by 1414 GMT, after earlier hitting an intra-day low of 7.3450.

“It’s nothing peculiar to the kwacha. This has to do with dollar strength across the board,” a trader with a commercial bank in Lusaka told Reuters. (Reporting by Stella Mapenzauswa; Editing by James Macharia)


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