Foreign Exchange And Money Market Rates

18/05/2018


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 11.0% per annum
270 Days Deposit 12.0% per annum
365 Days Deposit 14.0% per annum

Treasury Bills Yield

Treasury Bills  
91 Days 10.00%
182 Days 11.24%
273 Days 12.90%
364 Days 17.60%

Indicative Foreign Exchange Rates

Currency Buy Sell
USD/ZMW 11.790 11.980
GBP/ZMW 15.080 15.323
ZAR/ZMW 0.8360 0.8527
EUR/ZMW 13.358 13.574
GBP/USD 1.3452 1.3722
EUR/USD 1.1761 1.1998
USD/ZAR 12.396 12.645
USD/NAD 12.396 12.645

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

Government Bonds Return Rate

Government Bonds  
2 Years 16.40%
3 Years 17.90%
5 Years 17.90%
7 Years 18.98%
10 Years 19.00%
15 Years 18.50%

Economic Calendar

2018 Economic Calendar
23 May U.K. Consumer Price Index
23 May U.S. Federal Open Market Committee Minutes
24 May 11/2018 GRZ Treasury Bill Auction
24 May U.K. Inflation Report Hearings

Economic Indicators

Economic Indicators Rate
Inflation Current - 7.40%
  Previous - 7.10%
BPR 9.75%
Zambia Total Public Debt (August 2017) $12.45 Billion

Commodities & LUSE

Commodities & LUSE      
Measures      
Copper $6,828.00 $22.00
Brent Crude Oil $79.65 $0.02
Gold $1,286.65 $2.78
LUSE 5,557.62 0.01%

Foreign Exchange News

Friday saw Kwacha maintain its status quo against the U.S dollar, though it continued trading above the $/K10.100 mark. The local unit began the day trading at K10.125 / K10.175 on the interbank bid and offer respectively, a level it maintained until close of business. Trading was largely on the quiet side and was mostly seen on interbank. On the other hand, there was little corporate activity as most players most players were hoping for the local unit to rebound. 

The Kwacha's performance was reflected by other emerging market currencies like the South African Rand which also fell against the U.S dollar to an intra-day low $/ZAR12.7000. In the interim, the market is expected to remain flat, with most players trading the currency pair on the side lines.


Money Market News

Commercial banks' aggregate current account decreased by K188.15 to K537.51 million while the overnight borrowing and lending rate reduced by 0.02% to 9.82%. Total funds traded on Interbank were K454.00 million.


This information is prepared for indicative purposes only. For firm contracts please contact Linda Mwenya, Mudenda Syamujaye, Rudolph Ngulube or Peter Mwepu.
Tel: 360098 for Linda, 360096 for Rudolf or 360097 for Peter,
Or email:
linda.mwenya@cavmont.com.zm
rudolf.ngulube@cavmont.com.zm
mudenda.syamujaye@cavmont.com.zm
peter.mwepu@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.