The Association of Bureau de Change has […]

The Association of Bureau de Change has observed that the demand for the US Dollar on the market has reduced, highlighting that this is due to the uncertainty leading to the August general elections.

Association Secretary Jammack Simwaka confirmed that the exchange rate for the USD Dollar has remained stable for the past weeks despite demand being low.

A check by the Zambian Business Times (ZBT) on the Bank of Zambia average exchange rates as of 22 July 2026 shows the exchange rate of the Kwacha/Dollar is currently buying at K18.3 and selling at K18.4.

Speaking in an interview with Zambian Business Times Newspaper, Simwaka said, “The exchange rate for the US Dollar has been stable for the past couple of weeks, despite demand being kind of drought because of the election period, and every election period creates a certain degree of uncertainty in the market, which tends to affect demand,” said Simwaka.

He added that due to the uncertainty in the election, most individuals are opting to demand US Dollars after elections are done.

“Some of the deals are waiting for the election period to pass, and because of that, there is reduced demand for the USD Due to election uncertainty because individuals are not sure of who is going to win, and probably individuals fear that there might be policy changes because an outcome of an election affects business decisions,” said Simwaka.

He noted that until the election period is concluded, the demand for the US Dollar will remain low. “The market will only experience increased demand for the US Dollar after the election period is concluded, but for now we will continue experiencing drought demand or low,” said Simwaka.