Zambian Kwacha Holds Strong in Bullish Run, Gains 5% in a Month
The Zambian Kwacha is maintaining its bullish tone, trading firmly against the US dollar and nearing its recent highs.
Economic analyst Kelvin Chisanga reports that the local currency has gained 2.5% in the past five days and recorded a 5% appreciation over the past month, signaling continued resilience and positive momentum.
As of today, the USD/ZMW exchange rate is hovering between 24.60 and 24.70, placing the Kwacha near the stronger edge of its 30-day trading range. Mr. Chisanga attributes this sustained performance to a combination of favorable macroeconomic factors.
“The bullish sentiment around the Kwacha is largely supported by improved foreign exchange inflows—particularly from copper and non-traditional exports—tamed import demand due to tighter fiscal controls, and growing market confidence in domestic monetary management,” Mr. Chisanga stated.
He added that if the current trajectory persists, the Kwacha could consolidate its gains or even test stronger support levels in the short term.
However, he cautioned that potential external shocks in the third and fourth quarters may pose downside risks.
