Local Currency Markets The Kwacha remained largely unchanged - TopicsExpress

Local Currency Markets The Kwacha remained largely unchanged against a broadly bullish dollar on Friday with little activity in the local markets to provide clear direction. The local currency opened and closed trading at K5.480/5.500 for a third day running and to also close a short week of trading unchanged. Intra-day the Kwacha showed some resilience peaking at K5.475 /5.495 although selling ...activity was insufficient to cement the gain. The domestic unit was steadfast despite a strengthening of the dollar to a 3-year high against a basket of major currencies in global markets. In the short-term a stronger dollar is likely to test the Kwacha’s resili- ence with an expected trading range of between K5.45 and K5.50. RT ZANACO NEWSLETTER

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