The limited supply of forex on the interbank market has put pressure on the kwacha.The low supply of U.S dollars has forced the kwacha to depreciate.
A check by ZNBC Business News in selected bureau found the kwacha trading a K7.31 against a dollar.This is down from yesterday offer rate of K7.00 bid and offer price respectively.
Financial analysts say the kwacha is expected to remain under pressure in the short term.
A Financial Analyst Mambo Hamaundu says the limited supply of forex could put pressure on the kwacha.Mr. Hamaudu says depreciation of the kwacha also have an impact on importers.
He was speaking in an interview with ZNBC News in Lusaka.
Meanwhile, the Jesuit Centre for Theological Reflection has urged government to address the depreciation of the Kwacha against other major international currencies from a holistic perspective.
JCTR said in a statement to ZNBC News that government should focus on long term solutions that inspire confidence in the economic sector.