…as the United States ponders on hiking interest rates, posing a risk on currenciesBy BUUMBA CHIMBULUSUSTAINED demand for the hard currency on the local market has seen the Kwacha to lose further ground against the United States dollar, as copper fell for a second day while the Federal Reserve signaled interest-rates hikes.The Kwacha has con- tinued to weaken further against the United States dollar in its trading sessionsThe first week of trading in the New Year has been characterised by minimal supply from corporates adding some slight pres- sure to the Kwacha which is currently trading around K16.790 per dollar.Interim trends, accord- ing to the financial players, suggest that the rate may continue on this trend ow- ing to tight supply of dol- lars.“On Wednesday, the Kwacha tracked other cur- rencies which traded on the back foot of a broadly bullish U.S. Dollar. Sus- tained demand for the hard currency on the local mar- ket […]
Kwacha, Copper stumble
