Tue, 27 Sep 2016 23:02:15 +0000 THE Kwacha regained some of its losses against the US dollar following increased dollar inflows on the inter-bank as well as from exporters. According to Cavmont Bank Zambia daily market report, the currency pair opened at K10.025 / 10.075, but was later trading at K10.000 / K10.050 by afternoon. Market activity was mostly subdued on the buy side which gave further support to the local unit. Current trends seem to suggest that the local unit is likely to rebound further in the shorter term as exporters return to the market to settle month end obligations. The Kwacha closed at K10.000 / K10.050, K0.025 stronger than the day’s opening levels. On money markets, the bank reported that commercial banks’ aggregate current account balance decreased by K142.61 million to K754.33 million while the overnight borrowing and lending rate decreased by 0.21percent to 16.43percent. Total funds traded on Interbank were K118 million. The Central […]
