Tue, 03 Jan 2017 08:13:38 +0000 By Chikumbi Katebe THE ZAMBIAN Kwacha has been described as the best performing currency and assets in Best Spot Returns in Africa, and among the six best performing in the world in 2016. This is contained in a study published by Bloomberg, a global research and information company which placed Zambia sixth with Russia, Brazil, Palladium, Iceland and Silver as 1st, 2nd, 3rd, 4th and 5th respectively. And Bloomberg has placed Nigeria’s Naira as the worst performing currency of 2016 among more than 150 currencies worldwide. Bloomberg explained that the Naira has depreciated 37 percent against the US dollar since the central bank abandoned its peg on June 20, while bond yields have jumped to more than 20 percent. The naira strengthened 4.6 percent to 315 per dollar on Tuesday after falling to a record 350.25 on Aug. 19. Bloomberg explained that the Zambian currency has […]
