The kwacha has marginally depreciated against major convertible currencies buying at twelve kwacha thirty seven ngwee and selling at twelve kwacha sixty two ngwee.
The US dollar was previously buying at twelve kwacha and selling at twelve kwacha twenty three ngwee.
And Financial Analyst Munyumba Mutwale, of Nikiwa Capital Partners, has attributed this depreciation to a number of factors.
Mr. Mutwale said among the factors is Zambia’s debt as servicing it is done in US dollars.
He said the growth prospects for Zambia have been declined by the International Monetary Fund (IMF) from 3.1 percent to 2.9 percent.
Mr. Mutwale stated that this is a concern for most Zambians.
He noted that there is a significant depreciation of foreign reserves and the down turning economic outlook for Zambia.
Mr. Mutwale Zambia has also being importing more and exporting less.
He noted that there maybe a little push by Monday because there are some taxes to be paid.