Kwacha Opens Firm Against Dollar in Early Bank Trading below k20

The Zambian kwacha opened Thursday’s trading session on a firm note against the United States dollar, with most commercial banks quoting interbank rates below the K20 level in early trade.

According to the Daily Commercial Banks Exchange Rates at 09:30 hours on 8 January 2026, the market average interbank buying rate stood at K19.92, while the selling rate averaged K19.97, indicating sustained stability in the local currency.

Several banks, including Access Bank Zambia, Bank of China Zambia and ABSA Bank Zambia, opened with interbank buying rates of around K19.90 and selling rates near K19.95. First National Bank Zambia recorded one of the strongest buying positions at K19.80, while Standard Chartered Bank and ZICB quoted slightly higher selling rates at K20.05.

On the retail market, dollar selling rates remained above K20, with an average of K20.23, reflecting cautious pricing by banks despite the stronger interbank position. Stanbic Bank Zambia offered one of the lowest retail selling rates at K19.95, while Citibank Zambia quoted the highest at K20.40.

Market players attribute the firm opening to improved foreign exchange inflows, largely from mining exports, supported by continued policy measures by the central bank to manage liquidity and reduce volatility. Early-year seasonal inflows have also helped support the kwacha.

Analysts say the currency is expected to trade within a relatively narrow range in the near term, provided current supply-demand dynamics are maintained and external pressures remain subdued.