Kwacha maintains stability against the United States dollar

THE Kwacha largely remained unchanged on Monday for most parts of the trading day, according to Cavmont Bank Zambia daily money mrket.
Activity was subdued with both importers and exporters looking fort the next move in the currency pair.
Increased activity was expected as midmonth approaches.The local unit average K7.8 andK7.8 d50 70
The Kwacha closed at K7.840 / K7.860 – 0.015 stronger than the previous day’sclosing rate.
On local money markets, the bank reports that commercial banks’ aggregate current account balance increased further by K82.29 million to K735.35 million while the overnight borrowing and lending rate declined by 0.03 percent to 14.7 7 percent.
Total funds traded on Interbank were K385 million.
On the international scene, Cavmont reports that the price of copper slightly recovered to post a rise of $8.00 and the red metal was now selling at $5,173.00 a tonne.
Similary, the price of gold marginally shot up by $1.17 and the precious metal is now trading at $1,095.83 an ounce.
The bank further reports that the price of Brent crude oil went down by $0.08 and the commodity is now selling at $48.80 a barrel.
The price index at the Lusaka Stock Exchange (LuSE) has dropped by 0.27percent and was now standing at 5,839.67.
Meanwhile in three trades recorded today at the Lusaka Stock Exchange (LuSE), a total of 8,588 shares were transacted, resulting in a market turnover of K5,895 million.
Whilte trading occurred in CEC and MFIN, a share price loss of K0.01 was recorded in CEC.
The LuSE All Share Index (LASI) closed at 5,839.67 points, down by 0.07 percent compared to the previous close of 5,843.63 points.
The Market Capitalization closed the day at K64,713,000,000 including Shoprite Holdings and K30,474,000,000 .

Categorized | Business

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