On 2nd January 2019, each United States Dollar (USD) sold for an average of K11.96. A year later, on 2nd January 2020, the average selling price for one USD was K14.19, representing a depreciation of the Kwacha of 18.6 percent. However, in 2020 alone, sparked and driven by the complexes and contradictions associated with the Covid-19 pandemic, the Kwacha came tumbling further down, ending the year at K21.19 per USD, a depreciation of about 50 percent. The USD value of the Kwacha peaked at K22.69 on 12 July 2021.
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