Kwacha will appreciate next week-Finance Bank

Exports of a large quantity of maize are likely to help Zambia’s kwacha next week.
The kwacha is expected to appreciate from its current level of 5,200 to the dollar to about 5,100 after the government authorized the export of 1.1 million tonnes of maize.

“We are likely to see a bullish approach to the kwacha on the back of news that Zambia will be exporting its maize surplus,” Finance Bank treasurer Miles Sampa told Reuters.

Zambia, Africa’s biggest copper exporter, produced 2.7 million tonnes of white maize in 2009/2010, beating last season’s harvest of 1.9 million tonnes and leaving a surplus of 1.1 million tonnes, according to a government crop survey.

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