President's Health: Currency Implications

July 2008 | Market Strategy

Unless Zambian President Levy Mwanawasa makes a speedy recovery, we see further downside potential for the kwacha towards support at ZMK3,600/US$ and ZMK3,650/US$. In the event that Mwanawasa does not recover, we believe uncertainty is likely to persist for several months, posing risks to our end-08 currency target of ZMK3,200/US$.

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