‘Arrest dollarisation’…PRMC says Kwacha is legal tender in Zambia and should be used for all domestic transactions
Published On April 28, 2020 » 1050 Views» By Times Reporter » Business, Stories
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By KENNEDY MUPESENI –
THE Policy Monitoring and Research Centre (PMRC) has urged the Bank of Zambia (BoZ) to curtail Dollarisation of the economy to stabilise the local currency.
The think-tank said the Central Bank should put in place measures to prevent business houses that were pricing locally traded goods and services in foreign currencies, especially the United States Dollar.
PMRC executive director Bernadette Zulu said this in a statement yesterday.
“BoZ has guided on several occasions before, and in line with the Bank of Zambia Act, the Kwacha is the legal tender in Zambia and all domestic transactions are required to be priced and settled in Kwacha,” Ms Zulu said.

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