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The Zambian Kwacha remained largely stable against the United States dollar during Monday’s trading session, supported by strong market activity and balanced foreign exchange flows, according to the latest daily market report from Absa Bank Zambia.
The local currency opened trading on the interbank market at K18.8000/K18.8500 per US dollar and maintained those levels throughout the day, reflecting steady market conditions.
Absa Bank noted that the Kwacha’s short-term outlook expected to remain within a familiar trading range, with movements likely to be influenced by liquidity conditions and shifts in foreign currency supply and demand dynamics.
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“Consolidation was the order of the day as the Zambian Kwacha closed relatively unchanged against the USD yesterday,” the report stated.
According to Bloomberg data cited in the report, the Kwacha traded slightly above the K18.9000 per dollar mark, supported by increased foreign currency inflows from mining companies and commercial firms ahead of local currency payment obligations.
The report indicated that the steady inflows helped cushion the local currency against volatility, contributing to relative stability in the foreign exchange market.
Market analysts expect the performance of the Kwacha in the coming days to continue reflecting developments in liquidity levels, export inflows and overall market demand for foreign currency.
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