Kwacha maintains resilience

—The Zambian Kwacha has maintained its resilience against major convertible currencies as demand and supply have remained constant.

The local currency continued to hold steady against the United States Dollar trading in the range of K6.150 to K6.170 per one US Dollar.

This is according to Cavmont Bank market report for Wednesday, July 30, obtained by ZANIS in Lusaka today.

The report stressed that the local unit remains in positive territory and biased towards a stronger local currency.

The market report further disclosed that importers are still looking for more favourable levels.

Meanwhile, the Bank’s aggregate current account balance decreased by K290.16 million to K1, 050.84 million while the cost for interbank borrowing and lending remained at 15 percent.

The report further stated that funds traded on interbank were K304.50 million.