Global happenings mount pressure on Kwacha

THE happenings on the global market are likely to fuel more pressure on the volatile Kwacha although monthend tax obligation could cushion the impact, financial market analysts predict.
On Wednesday, the United States (US) Federal Reserve (Fed) increased the target for the bank’s benchmark rate by 0.25 percentage point, to a range of two percent and 2.25 percent with expectations of another rise before the end of the year.
This entails that US securities will be more attractive than those in emerging markets like Zambia.
“Today [Thursday], pressure on the Kwacha is likely to be moderated mainly due to corporate monthend conversions.

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