Economy

There’s Still Hope For The Kwacha

Not all is lost for the kwacha despite massive losses posted since last week as demand for the dollar continues.

FNB has stated that the local unit continued to lose ground against the greenback in yesterday’s trading session, reaching a new all-time low of K16.525.

“At this rate, uncertainty seems to gripping the market as participants on both sides seem unsure at what point the tide will turn. At these levels, the kwacha is just shy of parity against the South African Rand which seldom moved in yesterday’s session,” FNB stated.

“We expect to open today’s session at yesterday’s close of K16.525 and to trade under pressure against the greenback.”

Resistance, however is placed at K16.70, meaning the local currency may not reach K17 per U.S dollar.

However, should the central bank intervene, which is the most likely thing to happen, the kwacha will rebound.

Copyright © 2020 ZR.

34 Comments

  1. Jms

    Don’t just write,have the passion/ possibility in contributing also.

  2. Savior

    Ati umwaice nga alelilila naifi ati mupele nga yamuceka alaposa; this is what is pertaining on the ground.
    We Zambians,brought this on our selves,how could we pick a person who doesn’t even have an economical mind and put him on the seat which requires thinking???????
    Kwacha will keep on losing weight until it reaches k20 per greenback believe me you!

  3. Tikambepo

    Ati umwaice alima ibala ilikulu pamushi bamulowa abeni.
    Bring down our kwacha to where you found it twapapata mwebuteko!

  4. MWAMBA

    THESE ARE LAST DAYS

    • Victor

      yes Mwamba the fulfilment of the bible is now being fulfild little by little.

  5. Ichinyo ukufita

    As finance minister I have no idea on what to do with this situation please hh come and help us before we are finished

    • Guys

      Don’t be fooled by HH that the dollar verses kwacha can be stabilized him. HH is just a kachema he no oli well any where in the world. It L’s a high time he started cheating you that he got billion dollars for investment from USA .and he has connections . what a liar HH. This kachema will make you disappointed HH will never go to your home and bring food on your table . My friend just work hard . HH is looking for employment. He has never save or contributed positively in the Zambian economy .a part from enriching himself after the Zambian privatization.

      • Cd

        Iye Guys u are just a small pf carder with no vision President obe nafilwa he is too small to solve these problems how old are u? Has Zambia been this bad under previous five presidents? Do u have proper history u? muleke aleya NAFILWA period

      • TRUTH

        Comment bu ignorant 1mbecile spreading fake news to protect his corrupt masters. Good job arse l1cker.

      • Big

        Even you not know anything just go to sleep. HH is the hope for Zambia

  6. KINGFISHER

    mr dollar where are rushing to please?

  7. Jimmy shaba

    The day the dollar dies ,things will be better.
    Peter tosh was and is still right

  8. Razor

    It’s like the PF has realized that they are not coming back next year and are therefore hell bent on destroying the kwacha so that they leave the economy in shambles for whoever takes over next year.

  9. mkango jw

    please zambians lets work together to reach our country not in this maner too bad.

  10. Uluse

    #Guys….. Jealous down! HH is a man of vision who has reminded Zambians about poor economy under Pf. HH only wants to liberate Zambians from the pf induced poverty. He is a consultant and seats on so many boards and that is employment enough to earn a living besides his many successful businesses. No need to hate HH,he means well to take zambia to greater heights

  11. Not true

    Sudan is one of the poorest country in Africa now you check it’s number one when it’s come to dollar thing but the question that you may ask is why Sudan is number one of the poorest countries pipo no one can change this whether you bring someone from were ever you think it will not happen

    • LEAVE me ALONE

      # Not true, you better go to school of history to know why Sundan is the poorest to day, there was no leadership cause of civil war apart from that Zambia has more natural resources than Sundan you need also to go to school of economics Sundan is not also the poorest country in the world not so even in Africa, when the blind leads the blind what do you expect mr Not true ? When the wicked rules the nation suffers, again you must go to the school of Bible to understand how the principle of God works, mind you we have the power to move to the top through Christ if he is in us,

  12. Sosa

    #guys…..is just a foolish fool cadre and visionless bunch of the same feather ,,,,,,,,,,we don’t have time to argue with you just go to the toilet idiot.

  13. Tikambepo

    Umwana ashenda type of attitude is very dangerous bwana #guys……there’s light at the end of the tunnel .

  14. Euro Bond

    #guys: what businesses was your hero doing before he was beqeauthed with plot one? Your hatred for HH has really reached a poisonous level.Can you compare a rancher, board chair of so many companies both local and foreign to a bottlestore owner, clearly leagues apart!!

  15. Evelyn Mwenge

    I just hope things could change for the better one day.its so disheartening.

  16. Vidick

    Ba Zambia we are tired of this dilemma someone to save & satisfy our souls talema!!

  17. CD

    Even yo English guys shows that u are as danderhead as Lusambo the die hard carder yo president is afraid of brains that’s y he can give ministerial positions to danderheads like lusambo because the chap is inde bwana

  18. LEAVE me ALONE

    The kwacha to appreciate to below K10 this year kaya mwandini ! Time will tell at the end of December

    • Guys

      You insult me or not I don’t care but mind you you will be disappointed for the insults you have showered on me. I have seen days and nights . mark what I am saying to day 19.03.2020. If you don’t work hard and you are there waiting for HH to bring food at your table ukapapasana .HH will never do anything good for Zambia apart from making himself more richer. Economy goes with prevailing situation. Keep on waiting for him to bring manah . This HH has caused the life of most miners miserable . I don’t just talk .I talk with experience. Theory are easy to as but practical is important. Don’t look at his worth. Do you know where he accumulated that worth . think . is it from his sweat . ask your self some of these questions. where was he working , for how long was he in employment.how much was being paid. How much was he spending per month and saving. Don’t think he can think for .open your eyes don’t call me pf of is not my name. Let’s talk issues no insults hear. Those have no gain. You insult me I don’t care and I don’t get deformed. And I don’t lose any part of my body. For you to insult because ichishinka chilakalipa. The truth hurts. Continue insulting God is there to judge you.I feel sorry for you .if HH will feed the better but if he will not feed you sorry you shall eat grass like a grasshoppers. Contue with you insults .and you shall see the gravity of insulting me.

  19. The Great

    Please we are one people to fight each other. We can always resolve matter amicably. Some of the questions we should ask ourselve are if we are christians. If we are.. what does the bible say at times like these?. Lets not put so much trust in an ordinary human being like you. But put everything in God’s hand as we contribute positively to our nation. God granted us earth to be stewards of it and enjoy life in it but not to the extent that we forget Him. We have changed presidents but each president had his own errors during their reign. Yes we might say this government is the worst but remember we have always sounded that even with previous governments. Point is.. lets be peace loving and learn to live one another in everything we do. Even this coronavirus could be something God has allowed to try and unite the world.. who knows?. Leadership comes from God, if God pleases, he will remove him in his own way and not using evil. Hard times could be reminders to turn to Christ because if the world became so nice, we might forget Him and miss heaven. Salvation is more important than these things we complain. Dont forget that life on earth is temporal hence we should lose that bitterness we hold against each other for Christ sake.

  20. le Mitch

    Let HH take power..
    He has managed to be a billionaire..
    He can take this country’s economy to another state.

  21. Leeves

    ?

  22. Mtombe Litapy

    Sometimes it’s important to just shut up. Some comments awe mweeee….

  23. Patrick JR

    all will be well if only we help our government instead of misunderstanding each other…..

  24. Phyz Gee

    Bible prophecy ar now fulfilling at high speed nt even little by little Victor. Jehovah is abt to execute His judgement 4 dis system of things.

  25. Phyz Gee

    Let’s just continue to pray hard to Him so dat He may save us.

  26. kabuswe200

    It really heart breaking if you think of Where
    we’ve come from as a country and our current
    situations💔💔💔💔😭💔

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