Wed, 01 Mar 2017 13:23:24 +0000 By MAILESI BANDA AN overvalued exchange rate is a threat to the economic growth of a country as it affects the export of goods which become more expensive and fail to compete on the international market, Economic Association of Zambia president Crispin Mpuka has said. Dr. Mpuka said what was important in the exchange rate was the stability of the currency. Reacting to the Cavmont Bank’s daily market report for Friday which indicated that the local currency had continued to gain ground against the United States dollar in the past few weeks, he said this should not excite people as it had some economic effects if it continued. “An overvalued exchange rate has its own consequences as much as we celebrate as consumers we need to be wary of the other side bearing in mind that exports are an important part of the economy,’’ he said. He […]
