By BUUMBA CHIMBULUTHE Bank of Zambia (BoZ) was yesterday on the market looking to raise K1.50 billion in bond sale.The sale is likely to be oversubscribed with chances of yields edging lower, according to Access bank Zambia daily treasury report.According to the financial institution, it anticipated an oversubscription of yields owing to market liquidity adequately at more than twice the amount sought.Still on the money market, the bank indicated that aggregate liquidity on the market closed lower at K3. 29 billion from K3. 42 billion the previous trading day.“The volume of funds traded increased to K377 million from to K235 million. The overnight lending rate also inched higher to 8.49 percent from 8.50 percent.“The liquidity, however, still appeared to be evenly distributed among the banks,” the bank stated.On the foreign exchange market, Access stated that the Central Bank was absent with its intervention aimed at meeting the demand from importers.It indicated that activity on the […]
BOZ SCOUTS FOR K1.5BN FROM BOND SALES
