Kwacha still struggling against the dollar

The Kwacha continued to trade above the K6.5000 handle against the  dollar on Tuesday, according to Cavmont Bank Zambia.

The currency pair touched intra-day lows of K6.590 / K6.610 on the backdrop of low copper prices and increased demand for the greenback.

The local unit however made a recovery, as dollar inflows trickled in from corporate sellers which saw it touch intra-day highs of K6.490/K6.510.

The Kwacha closed at K6.550/K6.570, edging closer to the day’s lowest levels.

Commercial banks’ aggregate current account balance declined by K721.13 million to K1,681.97 million while the cost for Interbank borrowing and lending increased by 0.25 percentage points to 11.75 per cent.

Total funds traded on Interbank were K73.60 . million.

Categorized | Home News

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