Tuesday, May 6, 2014

Kwacha tumbles further against the greenback

By MAIMBOLWA MULIKELELA
THE Kwacha yesterday slipped further against the United State dollar from Monday’s close of K6.420/6.440 to an opening level of K6.450/6.470 at interbank.
Monday’s trading session saw the Kwacha weaken from an opening level of K6.420/6.440 against the dollar.
According to Standard Chartered Bank daily brief, the currency pair on Monday came in 40 points higher on Monday at around K6.420/6.440 from Friday’s K6.380/6.400 level.
The bank was selling the local unit yesterday at K6.4850 against the dollar and buying it at K6.3585.
A check by Times of Zambia in Lusaka at Golden Coin Bureau de Change, the Kwacha was being sold at K6.4500 and buying it at K6.3500 against the greenback on Tuesday at 09:32 hours.
While at JIT Bureau de Change Limited, the local unit was trading in the range of K6.350/6.490 against the greenback yesterday at 10:30 hours.

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