TRYNESS TEMBO, Lusaka
INCREASED United States (US) dollar inflow from corporates has continued positioning the Kwacha for further appreciation against the greenback in the near term.
Yesterday, the local unit opened selling at K11 against the dollar and K11.55 on the buying side in commercial banks.
Lately, the Kwacha, like other emerging currencies, has been under pressure from the strong greenback coupled with the United States (US)-China trade war.
United Bank for Africa (UBA) says yesterday’s trading range for the local currency was slightly higher than the previous close with anticipated range of K11.00 to K11.50 in the near term.http://epaper.daily-mail.co.zm/