KWACHA STILL UNDER PRESSURE

By Precious Mulabika:A Financial Analyst has projected that the kwacha will close slightly weak as a result of the many economic pressures that the country is faced with.Mambo Hamaundu says the kwacha has been facing a lot of strain from various aspects which have caused it to lose strength.He has however stated that despite the kwacha’s closing rate for 2019 being low, it would have been worse if measures had not been taken by the Central Bank to moderate the effects.Mr. Hamaundu says the kwacha would have closed at an even weaker rate if the Bank of Zambia did not increase the statutory reserve ratio.He says the nation must not just depend on monetary policies to mitigate the problems that the economy is facing, but that Zambia should strive to harness available investment opportunities.As of January, this year the kwacha was at 12 against the US dollar but moved to 13 in May owing to severe pressure. Post Views: 8
News Source: ZNBC