The Zambian Kwacha extended its losses against the dollar on Tuesday after supply flows dried out amidst renewed demand mainly from the retail sector.
The local currency opened at 11.9 Kwacha against th dollar on Tuesday but was quoted at 12 Kwacha around mid-day and later went down by 0.4 percent to end the day at 11 Kwacha 95 Ngwee per dollar.
This is according to the ZANACO daily treasury newsletter.
Meanwhile oil markets have slipped again on the international market, extending losses from a seven percent plunge the previous session as surging supply and the specter of faltering demand scared off investors.
Crude Oil on the International is now at 65 US dollars per barrel from about 80 US dollars early October.
Crude oil has lost over a quarter of its value since October in what has become one of the biggest declines since prices collapsed in 2014.