Kwacha to lose more value next week

Kwacha to lose more value next week

LUSAKA, Feb 11 (Reuters) – Zambia’s currency will likely continue trading on the back foot against the U.S. dollar next week as Kenya’s firms and Tanzania and Uganda’s hold steady.

ZAMBIA

The kwacha ZMW= is expected remain under pressure against the dollar next week as demand for hard currency continues to surpass supply.

On Thursday, commercial banks quoted the currency of Africa’s second largest copper producer at 21.5200 per dollar from a close of 21.4447 a week ago.

“Inflows from exporters have been low and importer demand remains high,” one commercial bank trader said.

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