Some traders in Chipata justify delay to reduce prices of basic commodities.

Some traders in Chipata say that it is too early for them to reduce prices of basic commodities.

Speaking to Breeze Business News, the traders say that they risk making losses if they reduce the prices because the kwacha‘s performance against other currencies has not yet stablished.

Justine Lungu and Victor Mulinda stated that the kwacha had by yesterday registered some depreciation against the United States dollar.

Mr Lungu and Mr Mulinda explained that they need to study the kwacha’s performance for about one or two months before a decision to reduce prices can be made.

Government and people from various sectors have been calling on traders to reduce prices of commodities following the appreciation of the kwacha.

Meanwhile the United States dollar was by yesterday buying at 9 Kwacha 20 Ngwee and selling at 9 Kwacha 37 Ngwee while the Pound was buying at 13 Kwacha 23 Ngwee and selling at 13 Kwacha 46 Ngwee.

Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.