Kwacha continues tumbling

The Zambian Kwacha received some support on interbank during Wednesday’s trading but it tumbled again owing to strong dollar demand on interbank market.

 

The local unit opened for trading at K5.775 to K5.815 and closed within the same levels.

 

Cavmont Capital Bank says current trends seem to indicate that the local currency is likely to continue trading between K5.7 to K5.8 per United States dollar in the interim.

 

This is according to the bank’s market report released to ZANIS in Lusaka today.