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Why does the US Dollar to Zambian Kwacha exchange rate matter?

April 26, 2017dollar exchange rate zambian

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Why does the US Dollar to Zambian Kwacha exchange rate matter?

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The local currency in Zambia is the Zambian Kwacha and all services and goods are priced in Kwacha. Since we receive our support in US Dollars it is necessary for us to change our Dollars into Kwacha to buy groceries or pay our bills. When we go to trade our Dollars into Kwacha at the bank they find out what the exchange rate is for that day and then give us the appropriate amount of Kwacha for our Dollars. The exchange rate is set daily by the Bank of Zambia, the main government bank.