Financial player predicts Kwacha performance

THE Kwacha is anticipated to regain its slight losses against the United States dollar although the local unit’s trading range, which is K15, is expected to remain wider, a financial market player has predicted.

United Bank for Africa (UBA) attributes the gain in the local currency to offshore players converting the dollar to participate in yesterday’s auctioning of treasury bills.

In its treasury newsletter, UBA says, “The Kwacha traded slightly bearish but is expected to recoup its minor losses ahead of today’s (Wednesday) treasury bill auction where offshore players are expected to participate.
“We expect the local currency to trade within K9.65 and K9.80 on the bid and…

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