By BUUMBA CHIMBULUTHE Kwacha continued to post losses against the greenback on Thursday on the back of sustained dollar demand from various market players. According to the financial markets, the Kwacha continued with its downward trend against the dollar on Wednesday’s trading session.Absa Bank Zambia daily market stated that opening the day at K17.800/17.850 to the dollar, the local unit weakened further in the afternoon session to close 7.5 ngwee at K17.875/17.925 on the bid and offer respectively. “We anticipate to see the local unit trade on the back foot due to low dollar supply to meet the build-up in demand,” the bank indicated.And Access Bank Zambia stated that the Kwacha opened at 17.850/17.900 and closed at 17.900/17.950 on the interbank market. It indicated that the local unit was expected to maintain a bearish trajectory in the short term as demand for hard currency continues to outweigh market supply.Meanwhile, the bank stated that the dollar climbed to multi-week […]
Kwacha continues to weaken
