ZACCI DAILY BUSINESS NEWS THURSDAY AUGUST 27, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 19.3204 19.3704
ZAR/ZMW 1.1466 1.1500
GBP/ZMW 25.3889 25.4643
EUR/ZMW 22.7786 22.8377 (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) ($/barrel)  45.72   46.06
COPPER ($/ton)  6,544.50   6,579.50
COBALT ($/ton)  33,025.00   33,030.00
NICKEL ($/ton)  14,880.00   14,862.00
ALUMINIUM ($/ton)  1,733.00   1,735.50
LEAD ($/ton)  1,984.50    1,960.00
ZINC ($/ton)   2,462.00   2,430.00
STEEL ($/ton)   447.50    444.50
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

Speed up debt relief talks

CUTS says measure will ease pressure on economy. There is need fro Government to speed up efforts of securing debt relief from lenders to provide the much needed fiscal pace, the Consumer Unity Trust Society (CUTS) has said.

Read more in daily mail

3 more banks reduce interest rates

MORE commercial banks have announced a 1.25 percent reduction in interest rates to help bring down the cost of borrowing in line with recent revision of the monetary policy rate by the Bank of Zambia (BoZ).
Read more in daily mail

ZCCM-IH to take charge of Mopani

ZAMBIA CONSOLIDATED Copper Mines-Investment Holding (ZCCM-IH) has started the process of increasing its shareholding in the US$4 billion Mopani Copper Mines (MCM) with a view to having a controlling stake in the giant mining firm.
Read more

INTERNATIONAL BUSINESS NEWS

Gold Fields Expects Rewards From Buffett’s Turn to Gold Miners

Gold miners are widening their investment appeal as near-record bullion prices boost profits and dividends, according to the chief executive officer of Gold Fields Ltd, Gold Fields is adding more generalist investors as they search for yield amid low bond-market returns, Nick Holland said in an interview from Johannesburg. The sector, which once largely drew the attention of specialist funds, is now attracting a broader base of investors who previously considered gold miners too leveraged and high-risk. Bullion’s surge to a record earlier this month is increasing that allure.

 

Leave a Reply

Your email address will not be published. Required fields are marked *