The Bank of Zambia – BoZ has revealed that the Gross international reserves had increased to a historic high of USD6.5 billion in February, mostly supported by foreign exchange purchases. Speaking during the 2026 first quarter media briefing attended by the Zambian Business Times-ZBT, BoZ Governor Dr Denny Kalyalya, however, said Reserves closed the quarter at USD6.2 billion, equivalent to 5.2 months of import cover. Dr Kalyalya noted that the observed decline in March 2026 was largely on account of Government payments (USD114.7 million) related to fuel procurement, need by the Bank of Zambia to support the market (USD106.5 million),...
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