Sat, 10 Jun 2017 08:41:21 +0000 By BUUMBA CHIMBULU THE Kwacha has rebound by holding strong against the US Dollar, touching an intra-day high of K9.200/K9.250 from its opening levels of K9.240/K9.290 following increased inflows from corporate sellers and exporters. This development follows weeks after the local currency suffered a strong setback, enduring the bullish from the green back which had recorded positive performance on the exchange rate market. The rebound, which began this week on Tuesday when the local currency traded between K9.300 and K9.350 per US Dollar, saw better performance on Thursday of K9.240/K9.290. According to Cavmont Bank Zambia daily market report, the Kwacha’s performance on Thursday was mainly driven by increased inflows from corporate sellers and exporters still looking to fulfil mid-month obligations. This comes after predictions from Cavmont Bank on Tuesday that the local unit was likely to post further gains as supply was anticipated from more sellers in the short […]
