The Kwacha has recovered from a recent dip against the US Dollar that begun towards the end of last week.
The recent poor performance of the Kwacha has been attributed to a rise in the demand for the Dollar from corporate and interbank trades.
A check at Zanaco revealed that the local unit wast buying/selling at K7.34/7.48, a gain of K0.04 from yesterday’s K7.38/7.52. The British pound was trading at K11.25/11.54 from yesterday’s K11.26/1155, while the Euro was at K8.10/8.30 from yesterday’s K8.05/8.26 and the South African Rand showed no change from yesterday’s K0.62/0.63.
On the interbank, the local unit opened at 7.40/7.42, same as yesterday’s closing rate.
kwacha is still under performing.we want k6.0 against dollar
What are you guys reporting? The demand for the dollar has sparked the rise? What economics is this?
yaba celebrating gains of 0.04 against a recent fall of over 20%. A very SAD state of affairs indeed!
THE POOR PERFORMANCE OF THE KWACHA IS A CLEAR TESTIMONY OF OUR POOR GOVERNMENT IN POWER.