SUDDEN APPRECIATION OF KWACHA UNLIKELY TO HAVE IMPACT ON COMMODITY PRICE REDUCTION ON THE MARKET
Prudence Siabana
Financial Analyst Maambo Hamaundu says the immediate appreciation of the kwacha in the last few days is unlikely to have an impact on the reduction of prices of commodities on the market.
The Kwacha has continued to appreciate against the United States Dollar selling at K21.45 Ngwee and buying at K21.05 Ngwee as of yesterday.
Commenting on this development, Mr Hamaundu says the sudden appreciation of the local currency will not have any effect on prices of goods as this can only happen if the kwacha appreciation is sustained for a period of time.
Mr. Hamaundu has told Phoenix News in an interview that when prices of commodities go up, they rarely come down except for commodities like fuel which are imported in dollar.
PHOENIX NEWS