…Kwacha performance reflects a strengthened macro-economic management, improved fiscal discipline, and renewed confidence in the country’s economic direction…
The Editor Zambia
THE Zambian Kwacha has been on a remarkable run, breaking the K18 threshold to trade at approximately K17.90 to the US Dollar on the interbank market. 
The local currency has continued to strengthen against the United States dollar, entering the K17 range this week, with the Bureau De Change Association of Zambia describing the trend as sustainable, driven by positive market sentiments and not mere rhetoric.
As 2026 world’s best-performing currency, the Kwacha has breached the K18 psychological mark to begin trading within the K17 bracket for the first time since 2023.
This performance positions the Kwacha among the strongest performing currencies in the world, exerting notable pressure on the dollar.
Financial analysts say this achievement reflects a strengthened macroeconomic management, improved fiscal discipline, and renewed confidence in the country’s economic direction.
According to the experts, the appreciation of the Kwacha is not by accident, but as the result of President Hakainde Hichilema’s institutional reforms that have strengthened the local currency’s performance.
Improvements in public financial management, revenue administration, and fiscal transparency have strengthened confidence in national economic governance.
The president’s reforms have enhanced predictability in policy implementation, a key factor in sustaining currency strength.
Among the factors driving this performance is President Hichilema’s policy adjustments, resulting in the stabilisation of key economic indicators.
The improved coordination of fiscal and monetary authorities has also helped rein in inflationary pressures, stabilising liquidity conditions, and restoring predictability in the foreign exchange market.
Equally, President Hichilema’s policy on debt restructuring progress has played a role in restoring confidence.
By addressing external debt obligations and clarifying repayment frameworks, Zambia has reduced uncertainty among creditors and investors.
This has improved perceptions of creditworthiness and lowered risk premiums, supporting currency stability.
According to the Bank of Zambia (BoZ) website, the Kwacha was buying at K17.50 to a dollar and selling at K17.90.
Improved investor confidence stemming from Zambia’s ongoing debt restructuring progress has supported the currency.
Before the UPND formed government in 2021, the Kwacha was a free fall experiencing a severe plunge, dropping from around K10 to the US Dollar in 2018 to a record low of over K22 to the dollar by mid-2021.
During the same period, foreign exchange reserves were critically low at around 1.2 billion dollars, weakening the central bank’s ability to intervene.
This is what the PF Pamodzi and Tonse Alliance leaders who are hallucinating that President Hichilema has not delivered cannot stand.
June 2, 2021: $1 = K22.50
June 2, 2026: $1 = K17.50
If this is what failure looks like, then Zambians want more of it.
When the PF took office in 2011, the Zambian Kwacha traded at approximately K5 to $1 USD. By the time they exited power in August 2021, the currency had depreciated drastically, trading at over K22 to $1 USD
Annual inflation, which stood at a stable single digit (around 6-7%) in 2011, surged dramatically to a peak of 24.6% by June 2021, heavily driving up the local cost of living.
Real GDP growth collapsed from a robust 6% in 2011 down to negative growth (-2.8%) by 2020, largely due to the debt crisis, fiscal deficits, and pandemic shocks.
The PF has regrouped to come back to continue plundering national resources. The PF mismanaged the economy in their 10-year rule. The economy was ruined, and Zambians were subjected to violence.
Political commentors say anyone who served in the PF administration is unqualified to promise any good governance.
