Sat, 20 May 2017 10:51:31 +0000 By BUUMBA CHIMBULU THE Kwacha came under pressure against dollar during Thursday’s trading session as demand outweighed supply which seems to have waned. The local unit began the day trading at K9.200 / K9.250, but was later seen being quoted at K9.250 / 9.300 by mid-morning. According to Cavmont Bank Zambia daily market report, the local currency which had recently registered some gains on the market suffered a setback during Thursday’s trading session. Cavmont Bank report indicated that the local unit’s performance was in tandem with other emerging market currencies which also came under pressure against the green back. The Kwacha closed at K9.300 / K9.350, K0.1 weaker than the day’s opening levels. Movements for the local currency was however expected to be driven by demand and supply fundamentals mainly. And Reuters reports that the dollar extended losses against the yen and the Swiss franc on Thursday as investors, […]
