-- Zambia ’s central bank published plans to criminalize the use of foreign currency in the local economy amid the biggest rally in the kwacha in four months.The southern African nation has faced severe currency volatility over the past five years, driving up the cost of imports and fanning inflation, which neared a two and a half year high this month. Companies from car dealers to mall landlords and hotels often charge in dollars, shunning the local kwacha.
The kwacha has been among the world’s worst performing currencies over the past 12 months, depreciating by 28%, according to data compiled by Bloomberg. It’s staged a strong recovery this month to become the biggest gainer globally, after the nation finally ended a near-four year default on its dollar bonds and received an outsized $570 million payment from the International Monetary Fund.
Zambia introduced restrictions on dollar use among local businesses in May 2012 and abolished them less than two years later.Japan’s Tiny Kei-Trucks Have a Cult Following in the US, and Some States Are Pushing BackTraders Sell French Assets Before Vote, Deepening Market Slide This Florida woman used lifetime warranties to cheaply maintain her car for 43 years. Here’s how you can do the sameThe average CPP benefits differ at 60 and 65 and future retirees must understand that there are income gaps to fill in both options. The post Average CPP Benefits at 60 and 65: What You Need to Know in 2024 appeared first on The Motley Fool Canada.
Source: Financial Digest (financialdigest.net)
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