Kwacha gains, copper price rises

THE Kwacha rose on Monday on the back of a subdued demand for the United States dollar on the market, a financial market player said.
Absa Bank Zambia Plc says there was decent supply of the greenback by the mining houses and tight local money market liquidity, thus offering relief to the Kwacha.
“The Kwacha gained gradually in both the morning and afternoon trading sessions to close 15 ngwee stronger at K18.30 and K18.35 per dollar from an opening level of K18.45 and K18.50,” Absa Bank said in its market update issued yesterday.
The local unit is in the near term anticipated to trade steady, with factors of demand and CLICK TO READ MORE

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