The Kwacha seems to have aligned with international markets on Friday as the US dollar remained king globally.
FNB reports that the local unit’s gains from previous weeks are slowly being reversed as Dollar demand continues to tick up. The market opened at 18.55/18.60 and rose to 18.65/18.70 as at close of business.
It states that Coronavirus continues its ‘toxic’ run with cases in Zambia increasing and has continued to have a negative impact on businesses and the country as a whole.
“As we start the new week, we could see a reversal of the current market tone as corporates settle their month-end obligations,” FNB stated.
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