Economy

Kwacha Steps Into October On Strong Footing

The kwacha has started October on a strong footing, breaching the K13 psychological barrier at some point in Tuesday’s trading.

“The local unit started October on a bullish note. The kwacha’s appreciation is owing to dollar conversations as the tax deadline draws closer,” FNB Zambia stated in today’s market update. “At its peak, the kwacha reached K12.97/K13.02 – these levels seemed to have ignited some jitters among importers, leading to a slight uptick in dollar demand. Markets eventually closed at 13.00/13.05.”

 

 

 

The market experts see a much stronger kwacha in the short term.

 

“Our view is that this bullish trend will continue in today’s trading – a break of 13.00 is possible. The rand, like the dollar, continues to depreciate against the kwacha. We could see market trading below 0.858 today,” stated FNB.

 

 

38 Comments

  1. observa

    Its laughable!! Is K13 to a dollar “strong footing” serious speaking?? Whom are they appeasing?

    • Sichone

      There is nothing to celebrate about the current state of the kwacha. We still have a very long way to go actually things will worsen in the long run😁

    • Frank Chombela

      The economic goal is a stable currency, that is, one that doesn’t swing widely all over the place. All this talk of a strong currency is economically un-informed.

  2. The Seeker

    I think this reporter is also looking for a governmental post hence this type of reporting. Writing good when things are bad,who are you trying to please?

  3. puzzled

    yaaba ba pf reports kuwayawayafye

  4. Paul

    Painful when I think of new deal government of late mwanawasa dollar was at k3.00, meallie meal at k35.00. Sorry, God hear our prayers.

  5. Chendabusiku

    The third most desirable or destructive factor to Zambia’ s economy are the negative Thomases and their god who cannot separate anything from plot 1. They see everything through the lenses of their supreme leader who was born to an “ unknown mother and father” but he is not the Melchezdeck of the Bible, it is just that his father should have been his brother. And the one who should have been his father became his grand father. What would you make of this guy?

  6. Sniper

    For want i can see it’s better whe challenge next time it’s as who vote.

  7. k

    A dollar is 13.00 and trading price has increased as well
    If reports are true then much imports will cost even more than expected
    Of the coming months and next two years of govt desperations.

  8. Pathetic failure

    Hw do you call a two-digit figure strong

  9. Razor

    Hope it goes back to where it was @ K10 to a dollar. It was easier to calculate prices abroad without using a calculator.

  10. Catwoman

    How is this supposed to be good news?

  11. kaleji mwanza

    life is life

  12. Lameck Lungu

    You know people who always dwell on the past have given us serious problem, when population grows honestly can things remain the same? How many universities did MMD build, roads, hospitals and others amenities. Any reasonable person should commend these guys in power though they have their own short comings.

  13. miles

    May God hear our cry

  14. P.M

    @Lameck Zulu….KK built unza and zit which is now cbu and of course mulungushi. No one else even pf have built a university. So whats your point

  15. SEE MIND (MWAMPO)

    THIS GOVERNMENT THEY PLAYING WITH ECONOMY K13.200 IS KWACHA COME STRONG? LOOK THE KK ERRA WAS LEFT KWACHA AT K0.260 , CHILUBA K4.50 MWANAWASA K3.50 , BANDA K 5.70 , SATA K7.30 , NOW THIS GOVERNMENT USELESS K13.20 . ECONOMY DIES !!!

  16. magical minds

    Imwe bafikala mwebalanda pali mwanawasa,in bemba we say ubulimi bwakale tabatalalikilako mwaana…..

  17. Keff Musole

    Zambian government and business ladies and gents,let’s work hard and put hands together to build up our country,I believe the first step to success is peace,
    let’s not point at each other this thing is called group or team work,
    let me not say much

  18. mudenda

    Who going to vote PF

  19. enemy of the state

    fyalipena bakamba……bena balelya bwino kabili twalibafwaila inchito……i’ll Neva vote top 2 bt last one ck1…..

  20. Pharaoh

    Lameck Lungu has spoken nicely.There’s more demand due to the growing population in the country.In those days,one would even by a pair of trousers a one ngwee.Dont compare the present economy to some years ago.

    • chikowa

      Zambian population cannot affect our Kwacha,how ever been in countries like India or the nearest Tanzania? The population of Dar es salaam only is the total population of Zambia, so what do mean by growing population?

  21. enalo

    13.02 &12.97 to a us dollar can not be felt at all. Better shutup than appeasing . things are sour.

  22. Chabala Chichi Richard

    no matter what you do we re just tired with PF muleya

  23. Sir-Gerrard

    Suppose i may query…
    When Zambia’s subjects are suffering, now just feeding from hand to mouth…
    1. And why would you even wish to let it carry on that way?
    2. What do you stand to gain?
    3. What are you driving at?

  24. mirriam

    cooperate…….

  25. MR chipoya obeck

    ok yes we have many population in our country but the population they can’t effect kwacha .because the on problems we do have many jobs opportunity

  26. Edna

    Hahaha

  27. Gideon

    How do stabilize it then??

  28. Obediah Eric's

    but Ba pf

  29. @Base

    @ Lamek lungu. Its not ‘dwelling’ in the past really. Besides, population increase shouldnt be an excuse to wjats happening . The counrty isn’t too big for our leaders to manage whats going on .

  30. Alex

    Busy talking and commenting about these things 😂 😂 😂,go and make a better life,talk tal won’t help you,be mu government and show us what you can do for us.
    Ati mwanawasa this, mwanawasa that, move on and forget the past,as if things will be okay once you start dwelling on the so called past, mxxxxxxm muleikalafye

  31. blackman

    Lets vote wisely 2021 this is a disappointment

  32. Mukululi

    That doesn’t matter stabilise to our food issues

  33. chabakola urban

    When they buy you chibuku or ka shekisheki and you’re drunk you think you can think wisely!the answer is no there we can conclude that an empty tin makes a louder noise than that which is filled.empty bubblings usually are perceived as gospel truth ,but then you shall know them by their lies .it’s lies&lies all the way.

Comments are closed.