Economy

Continued Demand For Dollar Puts Stress On The Kwacha

Month-end obligations by corporates are expected to reverse the current market tone on the foreign exchange market, FNB Zambia has predicted today.

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.

Copyright © 2020 ZR.

You can get in touch with our news team by emailing us at: editor@zambiareports.com

 

10 Comments

  1. William Suku

    Everything falls under corona virus

  2. Malizgani Nyirenda

    My surprise is that dollar is only on salaries, shop goods and farming in puts but on crop price dollar is not rising why?

    • lyman

      efyo baba ababantu there interest is concerns but other

  3. bronco

    this time we wil make it rise as well.

  4. Joe

    One day , dollar will just continue rising and it will be another covid19 in the world.especially African

  5. gify

    Starting frm 2014 up today Zambia economy is not good ..now we problem corona virus

  6. Jacky sinkala

    We r actually heading to k30 against the king dollar

  7. Kwalombota sakabilo

    We will continue complaining about the dollar because of our own carelessness. And if you ask me,we can turn things around by investing more in ourselves.we should learn to do most of the things in our country on our own.Why can’t we mine our own mines.instead,we sell them to foreigners and ask them to be paying tax of about 0.09 somewhere there why can’t we impower our own farmers by kicking the investor out of the picture and let the government manufacturer fertilizer locally there by selling it to the local farmer at a cheaper price. Why can’t we also have our own textiles in our country rathar than depending on the western word.there is so much we can do as Zambians and Africa as a whole and compete if not surpass the western world.we have everything we need.we are too rich to be poor.

  8. klui

    Ba Zambia u are totally the worst poeple alive..just look at yo leaders they don’t even look as though the love investment….its sooo funny to find a zambian askingfor a job from a Chinese man whose having the same ability of what his working on….don’t u ever ask your self a simple question…..
    Why do Zambias think what’s out there is not better than what’s inside yo own country….that mentally is what’s bringing about poverty….u always want to import…why

Comments are closed.