• Last week the Kwacha performed relatively bad.
• This was due to slow and low inflows from the energy, agriculture and manufacturing sectors.
• This week, the Kwacha is expected to make a rebound, inflows in terms of agriculture, energy and manufacturing sectors are expected to be on an upward trajectory.

Financial market players say the Kwacha’s huge losses indicate that it has depreciated by around eight percent since mid-August last year, while losing around 10 percent in value from its trading position at the start of the third quarter of 2020.
According to Zanaco, the Kwacha depreciated for the 54th straight week as demand continued to outdo supply support from the central bank.
It said the local unit depreciated 0.18%, a loss level it posted a week earlier, after closing the week trading at 22.24/22.29 from an open rate of 22.20/22.25 per US dollar on the interbank. BoZ was in the market selling dollars to c
And Economist Kingford Kalobi told Money FM News in an interview that the Kwacha is this week expected to make a rebound following anticipated inflows from the agriculture, energy and manufacturing sectors.
Mr. Kalobi noted that last week, the local currency did not perform as expected due to the slow and low inflows from the aforementioned sectors.
“Last week the Kwacha performed relatively bad as of Friday, basically due to the slow and low inflows from the energy, agriculture and manufacturing sectors. So this week the Kwacha is expected to make a rebound, we expect the inflows in terms of agriculture, energy and manufacturing sectors to be on an upward trajectory, meaning the Kwacha this week is expected to perform slightly better.”
“The exact rate for depreciation wasn’t much it was just around 2 percent, it didn’t perform according to expectations,” Mr. Kalobi said.
Meanwhile Mr. Kalobi stressed the need to boost copper production and other minerals in order for the Kwacha to make a better rebound.
“In terms of measures, there are a lot of factors. I think we need to boost our production and exports, copper production has to be boosted and other minerals, also outflows from agriculture and manufacturing sectors need to be boosted as well.”
“I think we expect a better rebound if government can put in measures to ensure that these are boosted,” he added.
The local unit opened the market trading at K22.09 and K22.50 respectively.