In an unexpected turn of events, the kwacha has soared by 22.8 against the Dollar in 2024. This remarkable performance marks a significant shift for the currency, which had faced challenges since Zambia gained independence in 1964.

The Bank of Zambia's decision to raise the statutory reserve ratio for both local and foreign currency deposits last November has played a pivotal role in bolstering the kwacha's strength.

--ChannelAfrica/Reuters--