The US dollar finished stronger versus the ZM kwacha although the pair continued to trade within narrow ranges on Tuesday in thin market conditions. The greenback was buying and selling on interbank at 4,870 and 4,890 respectively versus the local unit at the start of trading and rose to 4,900 and 4,920 respectively by mid-morning.

MONEY MARKET NEWS
Excess liquidity on the local market continued to hover above the K400 billion levels with Friday’s balance standing at K483.7 billion at the close of the day’s money market activities. Funds traded on interbank amounted to K59 billion at an average rate of 10.6 percent.

At 16:00 hrs local time on 6 January 2009, copper spot price on Nynex, New York was quoted at $1.5220 per pound and for February delivery at $1.5330 per pound.

You may notice some changes to your statement as from December. This is as a result of changes to our IT system which is being worked so as to improve service delivery. In order for us to migrate from our current system, The Micro Banker to a new system called Phoenix

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