Zambia's kwacha fell more than 1 percent against the greenback to a six-week low on Thursday as exporters sat on their dollars, holding out for better rates.
Kwacha weakens to 6-week low as exporters hold out for better rates
The kwacha hit a session trough of 10.2200 to the greenback, its weakest since April 7, according to Thomson Reuters data.
"We are not seeing a lot of dollar conversions from mining companies and other exporters. Exporters are holding on to dollars in anticipation of further kwacha depreciation," one commercial bank trader said.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Court accuses EFCC boss of contempt over handling of Yahaya Bello's case
Fubara donates ₦350m as Navy moves training headquarters from Lagos to Rivers
Bandits invade Defence Minister's hometown, kill 1, abduct scores
Cardiologist bags 4-year jail term over patient deaths
We must continue to support President Tinubu - Ododo tells Kogi residents
Tinubu appoints Zenith Bank founder Jim Ovia to chair student loan fund
Husband begs IGP to find his wife who went missing on official police duty
Ghanaian student sets world record for hugging over 1,000 trees in 1 hour
Lecturers need to undergo drug test to sanitise university system - Former VC
ADVERTISEMENT