Thu, 29 Sep 2016 09:25:42 +0000 THE Kwacha posted a gain of 1.53percent against the US dollar following increased inflows from exporters and sellers According to Cavmont Bank Zambia daily market report, the currency pair opened at K9.950 / K10.000 and looked set to remain range bound on the back of subdued market activity. However, by noon, the vehicle currency was being quoted at K9.850 / K9.900. The Kwacha closed at K9.800 / K9.850 and is likely to strengthen further should supply continue to outweigh demand. On local money markets, Cavmont reported that commercial banks’ aggregate current account balance increased by K614.85 million to K1459.02 million while the overnight borrowing and lending rate increased by 0.01percent to 16.70percent. Total funds traded on Interbank were K86.50 million. The Central Bank was still conducting Open Market Operations (OMO) and was looking to reduce market liquidity by K300 million. Accepted rates were averaging 14.19percent on a 7 […]
