• Within the Week I don’t see any significant change happening
• This is also premised on demand pressure coming as a result of debt servicing.
• The US Dollar was buying at Twenty One Kwacha Seventy One Ngwee

A Financial Expert says there will be no significant changes in terms of direction for the Kwacha this week.
Mambo Hamaundu explained to Money FM News in an interview this is because the local unit is not showing signs of halting its downward trajectory against other major convertible currencies.

“I don’t think that there will be any significant change really in terms of direction because the direction that the Kwacha has taken is that of depreciation,” he said.

Mr. Hamaundu added that this is also premised on demand pressure coming as a result of debt servicing and importation of various goods among other related matters.

He said the country being a net spender of Foreign Exchange; the trend continues pilling pressure on the exchange rate thereby affecting significant changes within the week.

“Within the Week I don’t see any significant change happening,” said Mr. Hamaundu.

The US Dollar was buying at K21.71 and selling at K22.13.