ZAMBIA’S RESERVES NOW AT 3BILLION US DOLLARS

Zambia’s international reserves are now sitting at THREE billion United States dollars, BoZ Manager Foreign Reserves, PROGRESS ZULU revealed.

According to ZNBC, Mr ZULU says the foreign reserves have now reached three billion United States dollars, representing three months of import cover.

Mr. ZULU has attributed the rise in the reserve to the increased gold reserves, the recent Special Drawing Rights and net purchases from the mines.

He was speaking during the media tour of BoZ stand at the ongoing Zambia International Trade Fair.

And on the other news, BOZ Governor, DENNY KALYALYA said the current price of fuel was not in the measurement index for the month of June inflation which dropped to a single digit.

Dr. KALYALYA said the central bank is aware of the concerns why the inflation rate had dropped while the price of fuel had increased.