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Kwacha gets relief, shilling, rand nosedive

KALONDE NYATI, Lusaka
AFTER trading on a downward trend for weeks, the Kwacha got some relief on Tuesday on the back of United States (US) dollar inflows, although this could be short-lived as demand for the greenback continues to characterise the market, financial market analysts have said.
Zanaco said the foreign exchange market witnessed renewed dollar inflows as off-shore players unwound their dollar positions, coupled with the Bank of Zambia (BoZ) policy measures announced last Friday.
“The local unit was poised for a partial relief intra-day on the back of BoZ policy measures and anticipated tax obligations falling due next CLICK TO READ MORE

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