Kwacha to be range-bound

THE Kwacha is expected to trade within the range of K6.4 against the United States (US) dollar this week due to minimal activities on the foreign exchange market, Finance Bank says.
The bank says the local unit has depreciated against the dollar despite weakness in the greenback.
“The outlook for the week suggests Kwacha may remainunder  pressure,  with  no  debt  auctions,  tax  dates  or traditional  conversion  dates  in line. Kwacha should continue to flirt with the K6.40 psychological level,” the treasury market report says.

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