In Zambia Kwacha weakens on low dollar supply

Tight dollar supply sent the currency of Africa's second-largest copper producer down 1.25 percent to 11.25 per dollar by 1302 GMT.

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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
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Zambia's kwacha weakened more than 1 percent on Tuesday on tight dollar supply, sending the currency of Africa's second-largest copper producer down 1.25 percent to 11.25 per dollar by 1302 GMT.

"Scant dollar inflows continue being snapped up by interbank and corporate players and is likely to sustain pressure on the kwacha in the near term," Zambia's National Commercial Bank said in a note.

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