ZACCI DAILY BUSINESS NEWS FRIDAY AUGUST 21, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 18.9494 18.9994
ZAR/ZMW 1.0938 1.0969
GBP/ZMW 23.8010 24.8740
EUR/ZMW 22.3774 22.4440 (BOZ)
ZAMBIA REVENUE AUTHORITY EXCHANGE RATES 01-15 AUGUST

US DOLLAR                  ZMW 18.2571 EURO                 ZMW 21.6810
SOUTH AFRICAN RAND ZMW   1.0906 BRITISH POUND  ZMW 23.9641
AGRICULTURE COMMODITY PRICES
GTAZ reference prices

Commodity Purchase(USD) Sell (USD)  
Soya beans 316         337
Wheat 420           430
Maize 140 164
Sun flower 265 300
Cowpeas 190 200
G/nuts shelled 874 984
Unshelled G/nuts
Rice

Source: Grain Traders Association of Zambia (GTAZ) Secretariat

INTERNATIONAL COMMODITY MARKETS

 COMMODITY CURRENT   PREVIOUS
Oil (BRENT) ($/barrel)  44.99   45.03
COPPER ($/ton)  6,694.50   6,667.00
COBALT ($/ton)  33,045.00   33,045.00
NICKEL ($/ton)  14,666.00   14,705.00
ALUMINIUM ($/ton)  1,755.50   1,746.50
LEAD ($/ton)  1,964.00    1,994.00
ZINC ($/ton)   2,466.50   2,468.50
STEEL ($/ton)   447.50    445.00
ZAMBIA ECONOMIC INDICATORS

CURRENT  PREVIOUS
Inflation (%) 15.8% (JULY, 2020) 15.9% (JUNE, 2020)
Annual GDP (%) 2.30% (2019)  3.0% (2018)  (BOZ)
Gross Reserves (US$ Billion) 1.45 1.41
BOZ Policy Rate (%) 9.25% 11.5%
 LOCAL BUSINESS NEWS

Payments waiver hailed

China, Paris club plans to heal Zambian economy. The economy could get some relief if plans by China to waiver interest payments on government loans and the decisions by Paris Club creditors to provide suspension of Zambia’s debt service are actualized, the central bank has said.

Read more in daily mail

Kwacha nosedives  to 19th mark

Th Kwacha yesterday breached the 19th rank, the highest ever recorded, a thin United States dollar supply took center stage.
Read more in daily mail

Briefcase trader tips maize trader, millers
Maize traders and miller have been urged to take advantage of the steady supply of the commodity by buying more to ensure sufficient reserves.
Read more in daily mail

INTERNATIONAL BUSINESS NEWS

South African Towns Struggle to Collect $11.1 Billion Debt

South African towns and cities are in increasingly dire financial straits, with a National Treasury report showing they are likely to collect less than a fifth of their outstanding debt. Consumer debt owed to municipalities rose to 191.5 billion rand ($11.1 billion) by the end the financial year through June 30, from 181.3 billion rand in the previous quarter, the Treasury said Thursday in a statement on its website. If debt older than 90 days is excluded, “the actual realistically collectable amount is estimated at 33.4 billion rand,” the Treasury said. “This should not be interpreted that the National Treasury by implication suggests that the balance must be written off by municipalities.”

 

 
 
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