The interest in Treasury bills auction increased by 10 percent last week from 30.28 percent recorded last month to 40.28 percent last week.

According to Cavmont Bank daily market report, the interest in Treasury Bill increased to K568.13 million from K405 million on offer.

Treasury bills are short-term financial investments that mature within one year or less from their time of issuance.

The bank reports that yield rates remained relatively unchanged except for the 273 days tenor yield which increased to 27.25 percent from 24.99 percent.

The bank has also reported that the Kwacha had continued to remain largely unchanged against the United States dollar despite the foreign exchange market being characterised by sustained rough green back inflows.

It reports that the Kwacha remained largely unchanged against the US dollar last week as the local unit traded at K11.380 and K11.410 for most of the day.

This is despite the foreign exchange market being characterised by continued choppy dollar inflows.

The bank reported that last Friday’s trading session saw the local currency’s stability subdued due to lack of activity from exporters and importers who have continued to trade the currency pair cautiously.

The local currency later closed its trading at K11.390 / K11.410, remaining unchanged from Thursday’s closing levels.

On the money market, the bank reported that commercial banks’ aggregate current account balance increased by K172.92 million to K669.45 million while the overnight borrowing and lending rate increased by 0.33 percent to 27.33 percent.

Therefore, total funds traded on Interbank were K468.90 million.

Meanwhile, copper price have registered an increase by $21.00, making the red metal trade at $4,588.00 per ton. According to the bank, an ounce of gold is currently trading at $1,222.00, this is after the commodity recorded an increase of $15.68. On the other hand, prices of Brent crude oil have continued to record a decline, with the latest being $0.99, per barrel is therefore trading at $33.92.

Categorized | Business

Comments are closed.

Our Sponsor

Jevic Japanese Auto Inspections

Social Widgets powered by