Zambia’s currency is stealing the spotlight. In early 2026, the Zambian kwacha has surged nearly 10% against the US dollar, hitting a two-year high after a sharp rally. So, what’s driving the move? Rising copper prices, aggressive dollar selling, new central bank rules, and a historic shift allowing mining taxes to be paid in Chinese yuan. As China pushes to internationalise its currency and African nations explore alternatives to the dollar, Zambia may be offering a real-world blueprint for de-

DOLLAR DEMAND CAUSING KWACHA DEPRECIATION Economist Chibamba Kanyama says the gradual decline in the performance of the Zambian Kwacha is as a result of the increase in demand for the United State dollar. The Zambian Kwacha has started showing signs of depreciating after a rapid acceleration in the immediate post-election period. Mr. Kanyama says this is because people that had offloaded their dollars into the market for fear of making losses have started buying them back. The local currency rea

The Zambian kwacha has extended its impressive year-end rally into 2026, emerging as one of the best-performing currencies globally with double-digit gains against the US dollar — driven by strong copper export earnings, policy moves to curb dollarization, and improved investor sentiment. While this momentum is welcome, the big question remains: Is the rally sustainable? A stronger kwacha can ease inflation and lower import costs, but much of the appreciation still hinges on high copper prices a

Man buns Zambian kwacha currency. | Toonse Alliance

Yo Maps Yo Live Performance Sun FM Zambia Kwacha Music Awards 😁 | Zambian TV