Kwacha remains at 0.18pc weaker

THE Kwacha on Wednesday was largely unchanged against the US dollar as it opened at K10.880 / K10.900 with minimal activity being seen from most corporates.

According to Cavmont Bank Zambia daily market report, by noon the currency was being quoted at K10.900 / K10.920 on Interbank on the bid and offer respectively.

The Kwacha closed at K10.900 / K10.920, 0.18 pecent weaker than Tuesday’s closing levels.

On the local market scene, the bank reported that commercial banks’ aggregate current account balance increased further by K310.49 million to K865.18 million while the overnight borrowing and lending rate decreased by 0.18 per cent to 25.00 per cent.

Total funds traded on Interbank were K551.00 million.

The bank, on the international market scene, reported  the price of copper posted another increase of US$55.00 and the red metal was currently trading at$4,615.50 a tonne.

It further reported that the price of gold too went up by US$4.31 to push the selling price of the precious metal to $1,079.84 an ounce.

In the same report, the price of Brent crude oil went down by US$0.83 and the commodity was currently selling at US$40.50 a barrel.

Meanwhile the Lusaka Stock Exchange (LuSE) daily commentary has reported that a total of 92,223 shares were transacted in eight trades, resulting in a market turnover of K78, 564.

Trading occurred in AELZ, CEC, LAFARGE, MFIN and REIZ. A share price gain of K0.02 was recorded in CEC.

The LuSE All Share Index (LASI) closed at 5,760.25 points, up by 0.14 per cent compared to the previous close of 5,752.34 points.

The market closed on a capitalization of K64,386,000,000 including Shoprite Holdings K30,147,000,000.