By MAIMBOLWA MULIKELELA –
THE Kwacha appreciated slightly yesterday against the US
dollar from Tuesday’s trading session of K6.130/K6.150 to K 6.115
/K6.135 at Interbank.
According to the Zanaco Treasury newsletter, the local unit remained unchanged against the greenback during Tuesday’s trading session with
little activity seen on the day.
The report said thin flows from corporate and interbank players saw
the local unit hold steady against the dollar.
From an opening of K6.130/6.150, it remained unchanged from the previous day’s
close, the Kwacha traded flat on the day and closed at the same level as it
opened.
For yesterday, however, a check at Zanaco Bank in Lusaka showed that
the local unit was trading at K 6. 0743/K6.1957, while at interbank it was in the range of K6.115/K6.135.
At Standard Chartered Bank the Kwacha was trading at K6.0650/6.1855
against the greenback, while at Just In Time Bureau de Change, the
local currency was in the range of K6.100/6.250.
At Golden Coin Bureau de Change the local currency was trading
at K6.100/6.220.
The Kwacha is expected to start trading with a bullish tone against
the United States dollar as corporate entities convert dollars to meet
their month end Kwacha and tax obligations.
Trading range is expected to be between K6.100 and K6.200 in the near term.
