Economy

Kwacha Moves In ‘Yo-Yo’ Style

The local currency on Thursday moved between gains and losses in one trading session, touching K18.17 at its lowest and later closing trading at K17.97.

“Thursday’s trading moved in a ‘yo-yo’ fashion, swinging between gains and losses throughout the day. At its lowest, the kwacha traded at USD/ZMW 18.17, but this was a touch-and-go moment after which it reverted to 17.97 where the market closed. At its strongest, the market traded at 17.89. The resurgence of dollar supply continues to provide support to the kwacha. As long as current flows continue, the kwacha will begin the long weekend on a firm note. We place resistance at 18.05 and support at 17.80, with the possibility of both sides being breached, depending on market dynamics,” according to FNB Zambia.

24 Comments

  1. Ronald simwinga

    You know you journalists have nothing to report about.you are up and excited about a small performance of the kwacha.a small performance.if it dropped to k10 and below yes.not publicising such trivia.pull up your socks guys.

  2. Ronald simwinga

    You know you journalists have nothing to report about.you are up and excited about a small performance of the kwacha.a small performance.if it dropped to k10 and below yes.not publicising such trivia.pull up your socks guys.talk about better things

  3. Razor

    And today back to K18.50. Rand meanwhile has recovered and is now below R17 to a dollar while us here have no clue.

  4. Bizwell

    Mammmmm you have done nothing

  5. Kabwe kaoma

    What a most useless report of 2020 what has it gained no wonder you mislead voters inform us when it reaches 10 from 18 even 13 it’s worse it was 2.5 with MMD you used to say they were corrupt

  6. Don't talk about MMD imwe malabishi yekayeka

    Don’t talk about MMD naimwe. May be you were too young to see things

  7. Cool guy

    I thought it was from 18.17-10.00 but it is from 18.17-17.97 I think it is the same no difference there, please u can do better.

    • Dennis Mawelera

      If you are changing USD 500,000 you save 100,000 kwacha,for big trades that’s not trivial.

  8. Kenneth L Chanda

    I thought that there are certain determinants associated with the kwacha gaining or losing value such as production .
    Remember in 1969 copper production rose up to 720 tones and the Zambian kwacha became so strong against all major convertible currencies including the British pound and the Us dollar.
    Therefore, it should be every Zambian wish for our currency to gain value. Of course when it becomes too strong, there will be consequences in terms of exports and imports.
    Interestingly, those who have dollar accounts celebrants, but the majority of us do not have such accounts.
    However, all the social dynamics should work for the Zambian majority. Mt. Chanda @ ten Miles, Great North Road, Chibombo district.

  9. Mukwa Victor

    I can’t see any change, what a shame report.

  10. Lethal Weapon

    During the MMD regime,particularly Levy Mwanawasa’s reign which is the best in our country’s history so far the kwacha was at around K 3,500 to a dollar. There was zero tolerance to corruption and mediocrity. Infrastructure development wasn’t much but the reason was to avoid senseless borrowing which has today landed us in debt distress.
    People always say the p.f administration has massively developed our infrastructure,but anyone can do that if careless enough to borrow $ 15 billion.

    • Jinjer

      I fail to believe why you still believe Mwanawasa had managed to bring dollar to a low of K3.50 (RB). There are things you fail to understand which took place during that period, there was recession in the USA and businessmen where speculating and commodities like copper with sold at over USD 10,000/tonne. Again that was when former Zimbabwean white farmers where being resettled in Zambia with loans from USA, UK and Australia which these farmers have not yet started paying back due to grace period. These white farmers started trading in forex and there was a flood in Zambia and things looked like magande and mwanawasa where super Zambians.
      I would urge you guys to learn, read and understand the economics of Zambia before you talk.

      • Super Stone

        Educate them sir balankola ba so called dataless cadres

  11. Dorfrlyn Sojin

    The PF government has no economists. And they don’t have economic advisers. They at the same level of think. Why have you failed to control the currency in flu ration? We have have people who can do the right things on economy. Wait and see.

  12. Mbuzi iwe

    Nothing has changed, we still have a long way to go

  13. Astra

    Strong minerals like gold that could easily twist this are mines in the bushels gadamit nobody knows for how long . The intricacies describing Zambia globally really dismal : the richest country in natural resources yet the among the top hungriest in the world .

  14. Love girl

    Then what’s that to be exited ayi

  15. E Ernest

    What’s critical is stability of the currency for long term planning. Not the “Yo yo!”

  16. E Ernest

    What’s critical is stability of the currency for long term planning. Not the “Yo yo!”

  17. Abel

    So what’s latest ba journalists naimwe?

  18. kechas

    Kushila kabumba guys twulalwa guys roller tayakabwelepo kano juse aka fwe

  19. kechas

    Kushila kabumba guys twulalwa guys dollartayakabwelepo guys kano juses akabwele alyo dollar nkabwela ,mwilabikako sana amano patu umbi akapena na dollar ikashale okay guys good night

  20. Jordan

    Why is everyone only looking at the negative here…. Whatever the case… The value is gaining and whether it takes a few months or weeks all that matters is that it is gaining

Comments are closed.