Zambia's central bank raises forex cash transaction limits

October 15, 2015 8:21 AM

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LUSAKA Oct 15 Zambia's central bank raised the foreign exchange transaction limits for companies and individuals holding accounts with commercial banks to encourage hard currency deposits, forex traders said.

Zambia's kwacha currency went into freefall in September as prices for its copper exports hit a one-month low. The southern African country faces external challenges including weak commodity prices, Finance Minister Alexander Chikwanda said in the 2016 budget last week.

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