References in periodicals archive ?
Gaudenzio Rossi, chairman of the Hotels and Catering Association of Zambia, told African Business that the fall in the value of the Zambian kwacha has "not done much to attract more tourists to Zambia.
He said, now that the Zambian kwacha is gaining marginal values, "some hotels have been reducing the kwacha prices, which is an advantage for local tourists.
As part of its Local Currency Initiative, the AfDB has issued, since 2005, a series of bonds denominated in or linked to the Botswana Pula, Ghana Cedi, Kenya Shilling, Tanzania Shilling, Uganda Shilling, Zambian Kwacha and the Nigerian Naira.
But now, hardly a year since, President Chiluba seems far from pleased about what has been happening in the wake of the sale, especially with the fall of the Zambian kwacha against the US dollar.
He claimed the new mine owners, and other foreign investors, are siphoning foreign exchange out of the country causing the Zambian kwacha value to fall sharply, and that it was disheartening that, since the sale of the mines, the amount of foreign exchange entering the Zambian economy had declined.
Since the imposition of the measures, the Zambian kwacha has gained some value against the US dollar and other major convertible currencies.
A recent issue of the Citibank (Zambia) treasury letter said the value of the Zambian kwacha fell by 63% last year.
This program offers Zambian investors the opportunity to buy FQM DRs and to receive dividend payments in Zambian Kwacha.
The main risk for foreign investors is the possibility of a steep devaluation, as with Zimbabwean dollar or Zambian kwacha in 1998.
The Zambian kwacha, which had strengthened from ZK 549.
Bank of Zambia said in a statement that it was illegal to price goods and services in foreign currencies if input costs are not in Zambian kwachas.
IN THE WORLD OF FINANCE, THERE ARE dollars, francs, pounds, rubles, guilders, pesetas, liras, drachmas, schillings, European Euros, Vietnamese dongs, Yemeni riasl and even Zambian kwachas.
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- Yugoslav New Dinar
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- Zambia Privatisation Trust Fund
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