ZACCI DAILY BUSINESS NEWS TUESDAY JULY 28, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 18.1492 18.1992
ZAR/ZMW 1.1011 1.1048
GBP/ZMW 23.3254 23.3969
EUR/ZMW 21.3072 21.3732 (BOZ)
ZAMBIA REVENUE AUTHORITY EXCHANGE RATES 16-31 JULY

US DOLLAR                  ZMW 18.1751 EURO                 ZMW 20.3732
SOUTH AFRICAN RAND ZMW   1.0894 BRITISH POUND  ZMW 22.8642
AGRICULTURE COMMODITY PRICES
GTAZ reference prices

Commodity Purchase(USD) Sell (USD)  
Soya beans 317         338
Wheat 430           450
Maize 148 177
Sun flower 265 300
Cowpeas 167 195
G/nuts shelled 445 725
Unshelled G/nuts
Rice

Source: Grain Traders Association of Zambia (GTAZ) Secretariat

INTERNATIONAL COMMODITY MARKETS

 COMMODITY CURRENT   PREVIOUS
Oil (BRENT) ($/barrel)  43.66   43.18
COPPER ($/ton)  6,425.50   6,412.50
COBALT ($/ton)  28,500.00   28,500.00
NICKEL ($/ton)  13,718.00   13,430.00
ALUMINIUM ($/ton)   1,661.50   1,654.50
LEAD ($/ton)   1,801.00    1,808.50
ZINC ($/ton)   2,210.50   2,193.50
STEEL ($/ton)     439.00    439.00
ZAMBIA ECONOMIC INDICATORS

CURRENT  PREVIOUS
Inflation (%) 16.6% (JUNE, 2020) 15.9% (MAY, 2020)
Annual GDP (%) 2.30% (2020)              2.20% (2019)  (BOZ)
Gross Reserves (US$ Billion) 1.45 1.41
BOZ Policy Rate (%) 9.25%  11.5%
 LOCAL BUSINESS NEWS

Gold price rises to $1,891 pr ounce

The increase represents 23% spike. As Zambia seek to boost its foreign reserves through gold storage, bullion price on the international market has risen by 5.01 percent to US$1,891 per ounce from last week’s US$1,800.
Read more in daily mail

Contractors gear up for Kariba Dam rehab

GE Hydro France with Freyssinet International, a foreign contracor engaged to refurbish the spillway gate a Kariba Dam, is putting up a construction site and fabricated electro-mechanical equipment in readiness for he rehabilitation of spillway gates.
Read more in daily mail

TIYE Enterprises scouts for factory funds

TIYE Social Business Enterprises is scouting for US$350,000 to set up a leather factory to process products for both local and international markets. Once established, the factory will produce goods such as wallets, shoes, handbags, hats, jackets, belts, sandals and carpets, among others. It is targeting the Democratic Republic of Congo, Angola and Malawi for its export markets. Company chief executive officer Angela Mulenga is confident that once fully operational, the factory will create over 10,000 jobs in the next three years.
INTERNATIONAL BUSINESS NEWS

Futures, Stocks Pare Gains; Gold Rally Cools: Markets Wrap

U.S. and European futures pared gains with Asian stocks on Tuesday as caution returned after the rally in gold cooled. The dollar narrowed losses after falling to a 22-month low. Asian shares began the day on the front foot on expectations the Federal Reserve will reinforce its dovish message this week and as U.S. stimulus talks got underway. Japanese and Australian shares later fell, with stocks in Hong Kong and China logging modest gains. S&P 500 futures fluctuated after the benchmark erased last week’s drop Monday. European futures erased an advance and Treasuries dipped.

 

 
 
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