Kwacha on recovery path

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The Kwacha starts the week with signs of recovery on the inter-bank market.
This is after trading firmly against the U.S dollar on Friday.
The local currency stayed on the front foot as corporate prepared to settle their quarterly tax obligations.
According to ZANACO Bank Daily treasury Bulletin the Kwacha was as of Friday trading at 12 Kwacha 5 ngwee against one U.S dollar on the inter-bank.
This enabled it to post a 20 points appreciation for the day closing at 12 Kwacha three  ngwee.
ZANACO said all things being equal, it expects the local unit to continue on its buoyant trends as U.S dollar inflows continues.

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