Kwacha static
Published On April 1, 2015 » 2281 Views» By Davies M.M Chanda » Latest News
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By JAMES KUNDA –
THE Kwacha saw its first trade in April against the United States (US) Dollar relatively unchanged as the greenback entered the month firmly after resilient trade in the first three months of 2015.
Meanwhile, Copper opened the month on a positive note trading at US$6,037 per tonne, up by 0.2 per cent.
Cavmont Bank posted the Kwacha trading at K7.5/K7.6 at against the Dollar, while at Zanaco, the local unit traded at K7.6/K7.7 against the greenback.
The Dollar has been rallying this year as the US economy outperforms much of the world and investors prepare for a Federal Reserve interest-rate hike this year.
Three Month Copper on the London Metal Exchange (LME) rose by 0.2 per cent at $6,038 per tonne while it is hoped that industrial activities will surge in top consumer China this quarter.

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