Business

Exporters to cushion Kwacha

Nakonde-border

CYNTHIA MWALE, Lusaka
ZAMBIA’S exporters could bring relief to the fragile Kwacha once they start converting the greenback to meet their mid-month statutory obligations.
This entails that there will be more United States dollar supply, thus offering support to the Kwacha.
“The Kwacha is expected to make a recovery should further supply be seen from exporters looking to meet mid-month obligations,” Cavmont Bank predicts in its market report issued yesterday.
From Tuesday’s trading, the Kwacha posted further gains against the dollar as it appreciated by 1.26 percent to an intra-day high of K11.70 and K11.75 on the interbank from the day’s opening levels of K11.85 and K11.90.
The appreciation was short-lived as importers, on the other hand, wanted more greenback to buy goods, especially with the festive period. http://epaper.daily-mail.co.zm/

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