The Zambian Kwacha is experiencing its most extended winning streak in nearly a year. The kwacha has appreciated almost daily since these monetary tightening measures were implemented, with a 10% gain against the dollar this month. The central bank’s decision to raise the reserve ratio to 26% from 17% and the subsequent increase in its key lending rate to 12.5% from 11% has not only targeted inflation but also prompted local investors to reduce their USD positions, contributing to the kwacha’s strength.