Kwacha remains strongBy BUUMBA CHIMBULUTHE bullish case for the local currency against the United States dollar has persisted, as interest from offshore players in the Zambian Kwa- cha dominated bonds con- tinues with the Central bank realises K2.50 billion at Fri- day’s bond sell.The local currency is cur- rently trading at K15.85 per dollar.The local unit closed stronger at K15.91 per dol- lar on Friday in compari- son to its opening level of K16.26/16.3156 3384 per dollar on the bid and offer respectively, according to the Zanaco bank newsletter.Zanaco indicated that the local unit was expected to trade relatively stable in the interim with a stronger bias, as month end inflows are yet to be fully priced in.“The bullish case for the Zambian Kwacha persisted in Friday’s trading session on the back of improved month end dollar inflows and the anticipated sentiment driven view of a stronger Kwacha in the short term,” it stated.Meanwhile, with […]
Kwacha remains strong
