CurrenciesAnalysis
Currency monitor: what is holding the Zambian kwacha among Africa's firmer currencies in 2026
CBAN Editorial Team · 22 Jul 2026 · 5 min read
Southern Africa
Zambia
Bank of Zambia (BoZ) · Governor Denny Kalyalya (since 2020) · Zambian kwacha (ZMW)
- Policy rate
- 13.25%
- Inflation (y/y)
- 6.5%
- GDP growth
- 4.8%
- Nominal GDP
- $29bn
- ZMW per USD
- 21.5
- FX YTD vs USD
- +16.0%
- FX reserves
- $6.5bn
- Next MPC
- 26 August 2026
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