Kwacha still under pressure

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The Kwacha is still under pressure as demand for the United States dollar increases.

Thursday’s trading session saw the local unit trade as low as K6.70 to $1 USD, six kwacha seventy ngwee to the United States dollar.

According to Cavmont Capital Bank, the kwacha went down from the early morning trade of six kwacha sixty two ngwee K6.62.

And the Zambia National Commercial Bank reports that on Wednesday the kwacha gradually lost pace in a market characterized very thin dollar supply.

ZANACO’s inter bank rate as of Wednesday stood at six kwacha fifty five ngwee and six kwacha sixty ngwee. ( K6.55   and K6.60)

 

ZNBC

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