Tue, 20 Feb 2018 11:53:45 +0000 By BUUMBA CHIMBULU THE financial market is anticipating the likelihood of the Kwacha making a comeback in the short-medium term owing to the coming local bond auction set for February 23 2018. According to the market, since the last auction in December 2017, bonds rallied on the back of flush liquidity conditions and a tame in inflation outlook. First National Bank (FNB) Zambia explained that the market saw increased Kwacha selling by the offshore market. The bank in its daily market news said the currency continues to come under pressure as dollar demand surges. “The offshore market also looked like net sellers of Zambia bonds, tying into the observed price action in the market. After a break of 9.900, the huge 10.000 becomes the natural target. The march towards the level will be halted if dollar supply volumes go up,” said the bank. It further said the market was […]
