Highlights: Local ZMW: Kwacha was unchanged at close of Monday from the levels seen on Friday. The local unit hit a session low of around 5.320-40 on the Inter-Bank before closing at around 5.310 – 5.330. Focus range for this week is still 5.260 - 5.360. MPC: Zambia’s central bank left its benchmark interest rate unchanged for a third consecutive meeting. The Monetary Policy Committee left the rate at 9.75 percent, the Lusaka-based Bank of Zambia said in an e-mailed statement today. The bank is targeting inflation, which slowed to 7 percent in September, to reach 6 percent by the end of the year. The central bank raised its key lending rate for two consecutive months before holding it in July. (Bloomberg) International News USD: The dollar fell to the lowest since Jan. 3 versus the pound after a partial shutdown of the U.S. government began with Congress in partisan dead-lock. The dollar weakened 0.4 percent to $1.6245 versus the pound as of 1:47 p.m. in Tokyo and touched as low as $1.6247, declining for a third day. The U.S. currency fell 0.2 percent $1.3549 per euro. (Bloomberg) Gold: Gold held losses on speculation that the first U.S. government shutdown in 17 years, which started at midnight in Washington, will be short-lived as lawmakers are forced to seek a compromise. Platinum touched an 11-week low. Bullion for immediate delivery fell as much as 0.3 percent to $1,324.95 an ounce, extending yesterday’s 0.6 percent loss, and was at $1,328.35 at 12:24 p.m. in Singapore. Platinum fell as much as 0.6 percent to $1,395.13 an ounce, the lowest level since July 11, before rising 0.2 percent to $1,406.60. (Bloomberg) ZMW T- Bill & Bond Auctions 91d 182d 273d 364d 2yr 5yr 10yr 15yr Previous % 8.00 13.21 13.50 13.45 12.65 15.24 16.95 17.00 Current % 8.00 13.30 13.95 13.75 13.50 15.50 17.25 17.25
Posted on: Tue, 01 Oct 2013 09:43:43 +0000
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