ADVERTISEMENT

Zambian kwacha firms to one-month high on dollar inflows

LUSAKA (Reuters) - Zambia's kwacha firmed to a one-month high on Wednesday as foreign investors keen on buying government debt sold dollars to stock up on the local currency, one trader said.

The kwacha added more than 1 percent to 7.260 per dollar but pared some of those gains to trade at 7.250 at 1246 GMT.

"Some people offshore are selling to create kwacha for the bond purchase next week and for Treasury bills tomorrow," the trader, who did not want to be named, said.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Niger Delta youths urge stakeholders to support amnesty program boss Otuaro

Niger Delta youths urge stakeholders to support amnesty program boss Otuaro

Dufil Prima Foods brings relief to indigent families in Abeokuta

Dufil Prima Foods brings relief to indigent families in Abeokuta

World Bank anticipates substantial decline in global food prices by 2025

World Bank anticipates substantial decline in global food prices by 2025

Yahaya Bello's nemesis, Akpoti tells EFCC to see ex-governor's case to the end

Yahaya Bello's nemesis, Akpoti tells EFCC to see ex-governor's case to the end

8 confirmed dead as floods sweep away truck attempting to cross flooded river

8 confirmed dead as floods sweep away truck attempting to cross flooded river

Chess master Tunde Onakoya's parents get house gift from good Samaritan

Chess master Tunde Onakoya's parents get house gift from good Samaritan

Teacher told everyone her man abandoned her for another woman — the truth was worse

Teacher told everyone her man abandoned her for another woman — the truth was worse

Ile-Ife is our ancestral home, Benin Kingdom tells Ooni

Ile-Ife is our ancestral home, Benin Kingdom tells Ooni

American school refunds $760,000 Yahaya Bello deposit to EFCC

American school refunds $760,000 Yahaya Bello deposit to EFCC

ADVERTISEMENT
ADVERTISEMENT