By BUUMBA CHIMBULUTHE Kwacha is anticipated to trade firm but could lose some ground as market players close off the week before the long weekend.This is after the local unit held steady against the dollar, putting a pause to the losses made earlier in the week with some activity recorded on the interbank, says Absa Bank Zambja daily market report.According to Absa, commercial banks at 08:00 hours quoted the Kwacha at 20.18/20.23 to the greenback, unchanged from the previous day’s close.“The local unit closed the trading session at 20.13/20.18/$, 5ngwee stronger after the Central Bank sold some dollars on the market,” the report said.Zambia Industrial Commercial Bank (ZICB) indicated that the Kwacha traded in the range 20.10 and 20.20 with most players sitting on the fence.“Globally, the U.S. Dollar was bullish across the board with most emerging market currencies trading on the back foot,” ZICB said. Elsewhere, the rand weakened ahead of President Cyril Ramaphosa’s […]
KWACHA TRADES FIRM
