Business

Kwacha remains quiet amid festivities

KALONDE NYATI, Lusaka
THE Kwacha on Monday registered marginal intra-day movements, as activity in the market remains subdued with the festive period, financial market players say.
Cavmont Bank says the local unit closed at K6.34 and K6.36 on Monday, relatively unchanged from the day’s opening session.
“The Kwacha traded in a tight range against the dollar during Monday’s trading session. The currency pair registered marginal intra-day movements as activity in the market remains subdued with the festive period now in full swing,” the bank says in its market report.
Similarly, Access Bank Zambia Limited said the Kwacha has persisted to trade on a weaker note against the United States dollar after opening at K6.34 and K6.36 on inter-bank on Monday.
“On Monday, after a volatile morning trading session, the Kwacha  has continued to trade weak against the greenback touching K6.37 and K6.39 during intra-day trade before it closed at K6.345 and K6.365,” the bank’s daily digest notes.

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