ZANIS BUSINESS COPY — Kwacha continues its steady rise against the green buck

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The Zambian Kwacha has continued its stable run against the United States dollar after maintaining the range K6.110 to K6.130 for the past week.

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Cavmont Bank market report for Wednesday obtained by ZANIS business in Lusaka today stated that the market remained subdued in yesterday’s trading session.

 

The report further stated that in view of the current market trends, the Kwacha is likely to strengthen further as corporate buyers hold off expecting a stronger rally from the local currency.

 

And the Bank’s aggregate current account balance decreased by K156.90 million to K1.540.45 million while the cost for interbank borrowing and lending remained much unchanged at 16.2 percent.

 

The report also disclosed that funds traded on interbank were K181.20 million.

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