By BUUMBA CHIMBULUINTERIM trends suggest that the local unit will likely trade between K21.80 and K22.50 in the short to medium term with a minimal bias to the upside.According to Cavmont Bank Zambia, the Kwacha on Thursday this week made a further movement to the downside against the U.S dollar.Cavmont in its daily market update indicated that the local unit began the day trading at K21.73 / K21.78 but was soon seen trading at K21.78/ K21.83 on the back drop of continued heightened demand.“Trading activity was largely flat during the session, with little or no inflows being seen from sellers,” the Bank said.Cavmont indicated that the local currency on Wednesday made a further movement to the downside against the United States dollar.“The local unit began the day trading at K21.68/ K21.73 but was soon seen trading at K21.70/ K21.75 on the back drop of continued heightened demand.“Trading activity was largely flat during the session, with […]
Kwacha staggers
