In Zambia Kwacha gains 2 percent as copper prices firm

By 1000 GMT the kwacha had gained 2.11 percent to 10.6700 per dollar as copper snapped a seven day losing streak.

  • Published:
A man displays a 50,000 Kwacha note in Lusaka January 23, 2012. REUTERS/Mackson Wasamunu play A man displays a 50,000 Kwacha note in Lusaka January 23, 2012. REUTERS/Mackson Wasamunu
24/7 Live - Subscribe to the Pulse Newsletter!

Zambia's kwacha gained more than two percent against the dollar on Tuesday a copper prices firmed, boosting the currency of Africa's second-largest copper producer.

By 1000 GMT the kwacha had gained 2.11 percent to 10.6700 per dollar as copper snapped a seven day losing streak.

"The recent gains posted by the Zambian Kwacha have been a result of the local FX market being awash with dollar supply," analysts at the Zambian branch of South Africa’s Standard Bank, Stanbic, said in a note.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.