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BBCSwinney defends food prices policy ahead of first minister vote·Economic TimesIndia fuel price hike among world's lowest: BJP·SCMPSome Asian airlines could collapse like Spirit without help on rising fuel costs·SCMPTexans accuse Japan of doing ‘deal with the devil’ by funding US fossil fuel projects·SCMPHong Kong property upswing poised to hold despite interest rates risk: Moody’s·SCMPCuba warns of ‘bloodbath’ if US attacks as Washington expands sanctions·NYTOil Prices Climb and Bonds Falter as Iran War Raises Inflation Fears·SCMPUS extends Russian oil waiver by 30 days as Hormuz closure chokes supply·BBCSwinney defends food prices policy ahead of first minister vote·Economic TimesIndia fuel price hike among world's lowest: BJP·SCMPSome Asian airlines could collapse like Spirit without help on rising fuel costs·SCMPTexans accuse Japan of doing ‘deal with the devil’ by funding US fossil fuel projects·SCMPHong Kong property upswing poised to hold despite interest rates risk: Moody’s·SCMPCuba warns of ‘bloodbath’ if US attacks as Washington expands sanctions·NYTOil Prices Climb and Bonds Falter as Iran War Raises Inflation Fears·SCMPUS extends Russian oil waiver by 30 days as Hormuz closure chokes supply·
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ZMW

Zambian Kwacha

ZMW · Zambia

50
High
Risk
Historical Scores
374553Jul 2021Jul 2023May 2026
What does this mean for you?

The Zambian Kwacha is under significant pressure, scoring 50 out of 100. This isn't a crisis yet, but things are moving in the wrong direction. If you're saving in this currency, you need to be paying attention — your purchasing power is being eroded.

Your savings need 16.5%/yr returns to not lose value. ZMW100 today → ZMW87 next year. Calculator ↓

Inflation
15.0%
Debt / GDP
71.4%
GDP Growth
3.8%
FX Volatility
74.6
Governance
Not available
Reserves
3.3 mo
Analysis
What's working well
Economy is growing healthily
What to watch out for
The currency has been swinging wildly — hard to plan ahead
Restrictions on moving your money out of the country
Prices rising fast (15.0% per year) — your savings lose value quickly
Full Zambia analysis →

Savings Impact Calculator

ZMW
Holding cash in ZMW15.0% inflation
ZMW 497−ZMW 503 (50% purchasing power lost)
Your ZMW 1,000 buys 50% less in 5 years
What if you invested ZMW 1,000 instead? (5yr, in ZMW terms)
USD-denominated assets gain an additional ~12.0%/yr from expected ZMW depreciation vs USD
Hold USD Cash
ZMW 1538
+ZMW 538
+9.0%/yr net in ZMW
S&P 500
ZMW 2701
+ZMW 1701
range: ZMW 1337–ZMW 5002
10% USD return + 12.0% FX · ±16% vol
Gold
ZMW 2487
+ZMW 1487
range: ZMW 815–ZMW 6189
8% USD return + 12.0% FX · ±24% vol
Bitcoin
ZMW 4824
+ZMW 3824
range: ZMW 394–ZMW 25.4k
25% USD return + 12.0% FX · ±54% vol

All values in ZMW. USD-denominated assets (S&P 500, Gold, Bitcoin) include an estimated FX gain of ~12.0%/yr based on the inflation differential between Zambia (15.0%) and the US (~3%). This uses purchasing power parity as a long-run approximation — actual FX movements can differ significantly in the short term. S&P 500 based on 1957-2024, Gold on 2000-2024, Bitcoin on 2015-2024. Past performance does not guarantee future results. Not financial advice.

Holding other assets too? Calculate your full portfolio risk →
This score is based on our 12-factor risk model. Think inflation or debt should matter more? Build your own model with custom weights and see how ZMW ranks differently.
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