Lusaka bureaux de change shun weak SA rand


SOME bureaux de change in Lusaka have stopped buying South African Rand due to its depreciation on the exchange rate, thereby creating scarcity of the currency.

The rand was currently trading around 0.65 to a Kwacha,

A check at Lusaka’s Levy shopping mall by Daily Nation found customers moving from one bureau to another looking for the rand.

Some of the bureaux visited said they had stopped dealing in the Rand due to low profit margins.

In the central business area, some bureaux visited did not have the rand.

The development has created anxiety among customers, particularly those travelling to and from South Africa.

Those spoken to said it was unfortunate that some bureaux had resorted to that kind of behaviour.

One customer at Levy shopping mall bureau de change who sought anonymity said he had gone from one bureau to another, especially around the central business area, where he was told the rand was currently not one of the most sought after currency.

He said most bureaux in the town centre did not have the Rand.

Categorized | Business

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