Zambia's kwacha firmed 1.4 percent against dollar on Monday, buoyed by last week's pledge by President Edgar Lungu to cut spending and support the struggling mining sector.
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Kwacha firms more than 1.4 percent against dollar
The kwacha touched a session high of 10.1500 per dollar, within easy reach of last Friday's 2-1/2 month high of 9.9900.
The Zambian head of state President Edgar Lungu attends the opening ceremony of the 24th Ordinary session of the Assembly of Heads of State and Government of the African Union (AU) at the African Union headquarters in Ethiopia's capital Addis Ababa, January 30, 2015. REUTERS/Tiksa Negeri
"The kwacha continues strengthening against the greenback and other major convertibles, backed by tight monetary policy and continued dollar flows from corporates,"BancABC said in a note.
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