Kwacha remains bullish
Published On April 15, 2015 » 1471 Views» By Davies M.M Chanda » Latest News
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By JAMES KUNDA –
THE Kwacha maintained a bullish trend against the United States (US) Dollar yesterday, buoyed by interbank and corporate sellers.
Meanwhile, Copper remained relatively unchanged at US$5,941 per tonne with top consumer China announcing that its economy grew by only 7 per cent in 2015, the slowest pace in six years.
At Finance Bank, the local currency was buying K7 and selling at K7.2 while at Cavmont Bank; the Kwacha was buying at K7.2 and selling at K7.3.
Short term outlook favours the Kwacha which is expected to continue its surge against the greenback going forward.
Three month Copper on the London Metal Exchange (LME) was at $5,941 per tonne, raising concerns as data showed China’s economy growing at the slowest pace since the global economic recession in 2008.

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