Posted 11/6/2023, 11:37:43 AM
Zambia Raises Bank Reserve Requirements to 14.5% to Stabilize Currency and Curb Inflation
- Zambia's central bank increasing reserve requirements for banks to 14.5% to curb currency fall
- Intended to alleviate pressure on foreign exchange market and control inflation
- Kwacha has fallen 21% against US dollar since June, one of world's worst performing
- Decline attributed to lower copper prices/output and debt restructuring challenges
- Kwacha depreciation driving higher inflation, as Zambia imports many products