• This week the Kwacha might perform slightly better if the mining and other multinationals honor their obligations.
• So many corporates are expected to make their payments in terms of salaries and taxes within this week.
• There will be a few dollars flooded on the market which will make the Kwacha perform relatively better.

An Economist says the Kwacha is this week expected to perform slightly better against major Global convertible currencies.
Speaking in an interview with Money FM News, Kingford Kalobi said this will however be possible if the mining sector and other multinational companies honor their obligations in US dollars.
Mr. Kalobi stated that as the month of June comes to an end, a number of corporates are expected to make their payments in terms of salaries and taxes within this week, a situation which might allow the local currency to slightly pick up.
He added that honoring of obligations in US dollars will mean that there will be some dollars flooded on the market which will in turn make the Kwacha perform relatively better.
“This week I think the trading might be unchanged, or rather it might perform better, if the mining and these other multinationals honor their obligations. You know this week we are closing the month of June, so many corporates are expected to make their payments in terms of salaries and taxes within this week, so on that backdrop we expect the Kwacha to perform slightly better if these multinationals and mining companies honor their obligations in the US Dollar currency.”
“That will also mean that there will be a few dollars flooded on the market which will make the Kwacha perform relatively better,” Mr. Kalobi said.
Mr. Kalobi noted that last week, the Kwacha did not perform very well against major convertible currencies such as the United States Dollar and British Pound as it was seen lagging behind especially on Friday.
“The Kwacha last week did not perform very well against major global currencies such as the British Pound, and the United States Dollar. So on that basis, as of Friday, you notice that the Kwacha was really lagging behind so we anticipate a better performance this week,” he added.
Some Commercial banks have quoted the local currency trading at K22.45 Ngwee and K22.86 Ngwee respectively.