Kwacha falls against US Dollar

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—-The Zambian Kwacha weakened slightly against the United States Dollar on Monday closing around K6.165 to K6.185.

This was 10 points softer than Friday’s K6.155 to K6.175 level.

According to Standard Chartered Bank daily brief obtained by ZANIS in Lusaka today, the currency pair seems to have a gradual upward trend over the last one week.

Cavmont Bank, however, reported that the Kwacha still remains bullish despite Monday’s downward movement.

The Cavmont Bank market report for Monday states that the expectations of the market continue to be inclined towards a stronger local currency.

The report further stressed that with mid-month obligations falling, corporate buyers are holding on for more favourable levels.