The Zambian Kwacha has continued to record positive performance as it appreciated by K0.085 or 1.34 percent against the United States dollar following improved dollar supply on interbank.
The local unit opened trading at K6.310 to K6.350 against one US dollar before closing at K6.225 to K6.265.
This is according to Cavmont Bank market report for Thursday which was obtained by ZANIS in Lusaka today.
The report stated that the local currency is likely to gain further if supply will continue to outweigh demand.
It further revealed that the Bank’s aggregate current account balance increased by K147.7 million to K804.65 million while the cost for interbank borrowing and lending rose by 0.12 percent to 23 percent.
The report further disclosed that funds that were traded on interbank were a total amount of K289.20 million.
Optical illusion!
Goes to stress the point of the ill-timed SI that was instituted to snuff out the dollar in support of the fading kwacha was an own goal by government. Most times than not, money is worth the paper it’s printed on!
Well its good news though its being propped up by borrowed $1billion bond. What will happen when it vanishes like the $750 million?By July the Kwacha will be trading at K8 to a dollar and its down ward trend will be unstoppable until the PF addresses the POA and political intolerance thats affecting the country’s perception as a peaceful nation.
The political intolerance affects all including those in PF because they fear for lives once ejected from PF. GBM is an example but fortunately he has invested massively in SA where his mother comes from.
Cavmont Bank listened to Chikwanda when he said Zambians must start to talk ‘postive’ about the kwacha otherwise on the ground Kwacha has actually depreciated.
He! He! He! He! awe mweeeeee!
IMF advisers/consultants at work?
IMF or World Bank ambitions have always been to ruin any positives in our economy because it serves them and their western masters better.
mwe baTonga, put back the dollar you siphoned from the economy or loose out. Mukafwa nama high BP
Avoid tribal comments dear.
Its NotTongas, its the tribes in government making useless trips abroad that are syphoning the dollar out the the country. To be exact its the PF minions panicking that they may not win 2016 elections that are transfering huge amounts of dollar to their off shore accounts.
That is good. Now reduce the price of fuel
OOOOH NOOOO!!!! I THINK HH DOES NOT LIKE THIS. WHAT HE WANTS IS FOR THE KWACHA TO PLUNGE DEEP INTO CHAOS IN THE HOPE THAT ZAMBIANS WILL BE DISGRUNTLED WITH THE PF AND MAYBE VOTE FOR HIM IN 2016. SORRY MR HH. ZAMBIA LIKE THE NOBLE EAGLE WILL SOAR ABOVE THE CURRENT PROBLEMS, WITH OR WITHOUT THE PF.
Are you as dull as you sound? HH’s estate is valued in kwacha not in dollars! How can he wish to have his estate diminish in value day in day out so that the less educated Zambians whom are in the majority can back him. An economist never plays Russian roulette. I have a substantial hedge fund in one of our banks in Zambia that has been losing value and I have besides myself with worry – do you see me laughing? If the topic is beyond you then it’s best to keep ones gob shut!
…. I am besides myself with worry^
@One Hit Wonder
THE PROBLEM WITH YOUR HH IS THAT HE BLOWS HIS TRUMPET AS IF HE IS THE MOST RICH IN ZAMBIA OR THAT HE IS THE MOST EDUCATED ECONOMISTS. WE HAVE RICH PEOPLE WHO DO NOT EVEN AOUNCE EVERY DAY THAT THEY ARE RICH. WE HAVE DOCTORS AND PROFESSORS IN ECONOMICS WHO DO NOT KEEP ANOUNCING WHAT THEY HAVE. AND ON WHAT I SAID, IT IS VERY TRUE. IF THE KWACHA CRAMBLES HH THINKS THAT THEN HE CAN DISCREDIT THE PF THEREBY HOPING TO GET INTO STATE HOUSE. THE LITTLE DOLLARS HE BRAGS ABOUT WILL NOT BE AN ISSUE WHEN HE GETS INTO STATE HOUSE BECAUSE THEN HE WILL JUST PLUNDER THE PUBLIC WEALTH TO COVER FOR HIS LOSS.
Great for this. Its a good development.
A stable kwacha gives me peace….
Eh pologaramu !
PHEW!! At least we can now breath and plan ahead. Well done PF. Shame to the jealousy critics and to HH. I’m sure HH is choking with jealousy!!
Good Luck to you!
By the way, how did you plan when the Dollar was K5.50 in December last year and went up to K6.30 in a space of three months? I won’t even bring Mr HH into the conversation
One Hit Wonder! It is you who is sounding dull because if HH cares so much about our kwacha he could have made some good suggestions on how to stop the down wad trajectory of the kwacha against the USD and other curencies. instead he chose to mock. For me he missed an opportunity to gain some points no wander he is so quite now that the kwacha is gaining.
Embers of jealous will kill you.
To all of you,
All of you who are saying Tongas have syphoned the Dollar or HH is chocked because of bra bra bra…, you are ALL DULL. Your tribal inclination can NEVER revive our economy. HH’s message is on PF to develop or at least mantain the economy where Levy + Magande left it. For sure your fathers in PF have failed. Unfortunately the devil put a veil on your faces such that you cant even see that Zambia is slowly sinking. God forbid for mixing people like this in Zambia. I will continue to pray hard that Zambia devide between those who can see and those who cant see at all. The day you will wake up to see that PF has been rejected for performing poorly will be the day of great blessings to Zambia.