Copper price to boost Kwacha growth

MINERS processing copper at one of the mines on the Copperbelt.

THE favourable copper price trading on the international market is likely to further support the strength of the Kwacha against the United States (US) dollar, a financial expert has projected.
Copper, which is Zambia’s major source for foreign exchange, is trading at US$6,418 a tonne on the London Metal Exchange yesterday.
Access Bank managing director Joana Bannerman said the local unit is expected to also receive support from the various measures being implemented by the Bank of Zambia (BoZ).
Currently, the central bank has been active on the open market operations, which is an activity by the central bank to take liquidity from a bank or a group of banks and reduced the monetary policy rate to 9.75 percent, among others READ MORE

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