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Zambian Kwacha regains strength
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16:41, August 26, 2008

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Zambia's Kwacha has regained its strength, posting a good run against the U.S. dollar last week, Times of Zambia reported on Tuesday .

The local currency, which began the comeback on Thursday, posted further gains on Friday and looks set to continue its rally in trading sessions early this week.

According to a Barclays Bank treasury market report, the Kwacha closed the week trading at 3,520 and 3,560 per dollar for buying and selling respectively.

During the ended week, the local currency lost more than four per cent against the dollar, mainly on the back of bearish sentiments and market jitteriness after the news of the death of President Levy Mwanawasa.

The treasury market report stated that the Kwacha looks set to continue its rally, trading in the 3,500 to 3,600 range early this week.

Source:Xinhua



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