Foreign Exchange And Money Market Rates

21/10/2019


Savings Account Yield

Account Type Rate (Amount in excess of K500,000)
Savings 3.0% per annum
30 Days Deposit 7.0% per annum
60 Days Deposit 8.0% per annum
90 Days Deposit 10.0% per annum
180 Days Deposit 14.5% per annum
270 Days Deposit 15.0% per annum
365 Days Deposit 17.0% per annum

Treasury Bills Yield

Treasury Bills  
91 Days 16.50%
182 Days 19.14%
273 Days 26.50%
364 Days 27.50%

Indicative Foreign Exchange Rates

Currency Buy Sell
USD/ZMW 13.820 14.100
GBP/ZMW 17.801 18.046
ZAR/ZMW 0.9382 0.9570
EUR/ZMW 15.245 15.444
GBP/USD 1.2809 1.3067
EUR/USD 1.1049 1.1271
USD/ZAR 14.629 14.924
USD/NAD 14.629 14.924

The above exchange rates are indicative. Please consult your nearest branch for firm contract.

Government Bonds Return Rate

Government Bonds  
2 Years 29.50%
3 Years 29.75%
5 Years 32.00%
7 Years 25.00%
10 Years 28.00%
15 Years 20.00%

Economic Calendar

2019 Economic Calendar
19 Nov BOZ - Monetary Policy Committee Meeting(Q3)

Economic Indicators

Economic Indicators Rate
INFLATION Current - 10.50%
  Previous - 9.30%
BPR 10.25%
Zambia's External Debt (June 2019) $10.30 Billion

Commodities & LUSE

Commodities & LUSE      
Measures      
Copper $5,850.00 $107.00
Brent Crude Oil $58.51 $0.60
Gold $1,492 $0.00
LUSE 4,355.43 18.02

Foreign Exchange News

The USD/ZMW currency pair saw the Kwacha trade on a weaker note following an increase in demand on the interbank. The Kwacha began the day trading at K13.160 / K13.210 but was later seen trading at K13.230 /K13.280 by mid-morning. The local unit seems to have come under pressure as a result of demand from the energy sector.

However when compared to other emerging market currencies, the South African Rand remained resilient against the U.S dollar as it touched an intra-day high of $1/ZAR14.7377 (Reuters).

The local unit is likely to rebound should the current demand from the energy sector subside.


Money Market News

The commercial banks' aggregate current account decreased by K236.96 million to K785.61million while the overnight borrowing and lending rate decreased by 0.25%to 10.25%.Total funds traded on Interbank was K491.50million.

Meanwhile, Friday's bond auction was over-subscribed by 13.4%% as total bids amounted to K1,247.25 million against an auction size of K1,100 million which was being offered. Despite the over-subscription yields were unchanged across all tenors, with the highest yield being 32.5% on the 5 year tenor.


This information is prepared for indicative purposes only. For firm contracts please contact Peter Mwepu, NathanTembo, Chiyanzu Kambita or Namakau Manda.
Tel: 360097 for Peter, 360098 for Nathan or 360096 for Chiyanzu,
Or email:
peter.mwepu@cavmont.com.zm
nathan.tembo@cavmont.com.zm
chiyanzu.kambita@cavmont.com.zm
namakau.manda@cavmont.com.zm

Cavmont Bank Ltd accepts no liability whatsoever for any direct or consequential loss arising from the use of or reliance upon any of the information and opinions contained herein.