Kwacha makes modest gain against US Dollar

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Cavmont Bank says the Kwacha made a modest gain against the United States Dollar in yesterday’s trading session despite opening at K6.1165 to K6.205 during early trading.

This is according to the Bank’s market report for Thursday obtained by the Zambia News and Information Services (ZANIS) in Lusaka today.

The report disclosed that the local currency appreciated to a low of K6.145 to K6.185 following increased supply from sellers who were converting Dollars for Kwacha.

The report further revealed that current trends indicate that the currency pair is likely to continue trading in within current levels, with some resistance being expected above K6.200 per one US dollar.