Zambia’s central bank sold $532.5 million in the foreign exchange market between January and May this year to moderate the volatility in the kwacha currency, it said in a statement posted on its website on Thursday.
The Bank of Zambia also said gross reserves climbed to $3.4 billion by the end of May from $2.7 billion last December, largely boosted by inflows from the country’s second eurobond.
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