Mid-month obligations to aid Kwacha

AS CORPORATES prepare to pay their tax obligations due this mid-month, the Kwacha is projected to appreciate further against the United States (US) dollar in the short term.
Projections are anticipated to be below the K10 mark for both buying and selling, financial market players observe.
Zanaco says corporates are converting their dollars into the local unit to settle their tax obligations due before July 14.
“The Kwacha’s appreciation against the greenback is expected to continue in the short term supported by increased corporate dollar inflows,” the bank says in its daily treasury newsletter.
On Thursday, the Kwacha was quoted at K 9.75 and K9.80, 12 ngwee stronger due to CLICK TO READ MORE

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