Zambia: Kwacha Heading To ZMK3,400/US$

March 2008
Emerging Markets Monitor;3/10/2008, Vol. 13 Issue 46, p21
Country Report
The article cites a bullish outlook for the Zambian kwacha based on strong fundamentals, particularly high levels of FDI and a strong current account surplus. The 2008 year-end target has been revised up to ZMK3,400/U.S.$ from ZMK3,500/U.S.$. The kwacha has been testing key resistance at ZMK3,675/U.S.$ since November 2007. It is believed that rising copper prices boosting copper export volumes will help the currency struggle to break through this level.


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