According to the a recent bank of zambia report Zambia's gross international reserves have fallen from US$2.371.4 to US$2.317.7 billion.
BOZ says the recent sale of foreign exchange to the market was aimed at moderating the depreciation in the exchange rate and it amounted to US$152.5 MILLION.BOZ in this case intervened for the purpose of mitigating instability in the exchage rate.
In reflection the reduction in forex reserves is minimal and the country can withstand a major crisis.
A report by Citi bank zambia expected the kwacha to be trading at levels lower than K5200 on the premise that demand for the greenback had slowed.
CITI BANK REPORT
My assumption here is ...and it is an assumption ..is that the kwacha could reach levels of K4900 to K4700 given the intervention by the bank of zambia coupled with less greenback demand.
Posts
Excellent tips. Really useful stuff .Never had an idea about this, will look for more of such informative posts from your side.. Good job...Keep it up
ReplyDeleteA very good and informative article indeed. It helps me a lot to enhance my knowledge, I really like the way the writer presented his views.
ReplyDelete