Pressure on kwacha | The Times Group: By Taonga Sabola:
Pressure has started mounting on the local trading unit, the kwacha, as the country passes through the lean foreign exchange period, investment management and advisory firm Alliance Capital has said.
In its October 2018 Economic Report released Wednesday, Alliance Capital says the kwacha has steadily depreciated against the dollar since September 2018.
As at October 5 2018, the foreign exchange reserves stood at $690.48 million (3.3 months) down from $745.49 million (3.56 months of cover) recorded on September 5 2018.
Pressure has started mounting on the local trading unit, the kwacha, as the country passes through the lean foreign exchange period, investment management and advisory firm Alliance Capital has said.
In its October 2018 Economic Report released Wednesday, Alliance Capital says the kwacha has steadily depreciated against the dollar since September 2018.
As at October 5 2018, the foreign exchange reserves stood at $690.48 million (3.3 months) down from $745.49 million (3.56 months of cover) recorded on September 5 2018.
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