Kwacha weakens to 6-week low as exporters hold out for better rates

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.

"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.