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 LUSAKA, Zambia (AP) - Pride in Zambia's surging currency is giving way to concern as farmers, manufacturers, tourism officials and aid groups start to feel the sharp edge of the strong kwacha.
The Zambian currency gained 30 percent against the dollar in just a few weeks last November, the result of high international copper prices and rising foreign investment. It is currently trading at about 3,600 to the U.S. currency.
Zambia's governing party has hailed the development as an economic victory. But others worry a strong and unpredictable kwacha is doing more harm than good to this southern African country, the world's 11th largest copper producer, where 73 percent of the 11 million population lives in poverty.
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