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Kwacha remains stable

THE Kwacha has continued on its stability path against the United States dollar trading at the same level of K19.20 and K19.25 throughout the session on Friday.
But Zanaco Plc head of economic research Patrick Chileshe expects rising copper prices and the return of off-shore investors into the Zambian financial markets to continue strengthening the Kwacha.
According to the Absa Bank Zambia daily markets update, the Kwacha was stable against the US dollar on Friday, trading at the same level as Thursday’s close due to US dollar inflows that were evenly matched with lower demand from importers.
“At 08:30 hours, commercial banks quoted the Kwacha at K19.20 and K19.25 per US dollar where it traded throughout the session to close the day firm on the bid and offer, respectively.
“Markets were closed on Monday for a Farmers Day public holiday and as they open today and CLICK TO READ MORE