Zambian kwacha firms more than 1 pct as dollars flood market

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Zambia’s kwacha strengthened to a four-day high on Tuesday underpinned by dollar inflows and looked set to remain strong, traders said.

 

The kwacha firmed as much as 1.2 percent to 7.1500 but gave up some of its gains to trade 0.6 percent higher at 0855 GMT.

“Now that there seems to be sufficient dollars to meet the local demand for the greenback, the kwacha has been fairly stable,” FNB Bank said in a note.

 

“We are of the view that exporters do not want to miss the boat and will most likely come into the market. This will see the kwacha gain further momentum

(Reuters) –

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