The Zambian Kwacha has continued on a strong appreciation trajectory against the United States Dollar, with the latest exchange rates showing the dollar buying at K17. 96 ngwee and selling at 18.32 Ngwee as at 2nd June 2026.
The local currency has, in recent months, recorded significant gains against the dollar, making it one of the better-performing currencies on the African continent.
Economic analysts have attributed the Kwacha’s strength to increased foreign exchange inflows from the mining sector, particularly copper exports, improved investor confidence, easing inflation, and continued macroeconomic stability.
Rising global copper prices have also boosted Zambia’s export earnings, increasing the supply of foreign currency on the market and supporting the Kwacha.
As Africa’s second-largest copper producer, the country has continued attracting investment into the mining sector, further strengthening foreign exchange inflows.
The stronger Kwacha has also contributed to slowing inflation, with Zambia’s annual inflation rate dropping to 6 point 6 per centt in May 2026, the lowest level recorded in several years.
By Rachel Mumba
