Business

Kwacha posts some gains

TRYNESS TEMBO, Lusaka
IMPROVED supply of the greenback and positive market sentiments following news that Zambia is resuming talks with the International Monetary Fund (IMF) on possibility of getting a bailout package have resulted in the Kwacha posting some gains.
On Tuesday, the Kwacha gained by 5.5 percent, to rally below K12 mark.
Lately, the local unit, like other currencies, has faced pressure due to the strengthening of the United States (US) dollar on the back of the US-China trade war.
But announcements that Government will resume discussions with IMF over getting a bailout package of US$1.3 billion has brought some hope to the local currency market and also some improvement in the dollar supply http://epaper.daily-mail.co.zm/

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