• This week the local unit is anticipated to remain largely on the back foot due to elevated levels of demand in the market.
• Last week the local unity continued to make losses however the depreciation pace reduced significantly.
• From where we stand we are seeing the Kwacha depreciating.

An Economist says the Zambian Kwacha is anticipated to continue depreciating touching a low of K17.50ngwee and K17.55Ngwee by close of the week.

Speaking in an interview with Money FM News, Dr. Patrick Chileshe noted that last week the local unity continued to make losses however the depreciation pace reduced significantly by 0.6 percent “over the course of the week” trading from K17.26 Ngwee ,K17.31 Ngwee and closing at K17.36 Ngwee, K17.41 Ngwee.

Dr. Chileshe explained that this week the local unit is anticipated to remain largely on the back foot due to elevated levels of demand in the market a foreign currency supply seems to be limited.

“From where we stand we are seeing the Kwacha depreciating and possibly touching a low of 17.50, 17.55 by the close of the Week.” he said.