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HomeBusinessKWACHA MAINTAINS STABILITY AGAINST THE US DOLLAR

KWACHA MAINTAINS STABILITY AGAINST THE US DOLLAR

BY FELIX KATYETYE

The Kwacha has experienced stability in terms of exchange rate against the United States dollar this January, 2022 compared to the same period last year.
As of January 2021, the USD was buying at K21.27 and selling at K21.32 during same period.
According to Bank of Zambia Fortnight Statistics on exchange rates, the kwacha has appreciated against the US Dollar which is currently buying at K17.622 and selling at K17.67 compared to January 2021 at K21.27.
The Fortnight Statistics further shows that the Bank of Zambia’s weekly average mid-exchange rate depreciated by 2.35 percent to K17.02 per US dollar from K16.63 per US Dollar recorded in December 2021.
While the weighted average Treasury bill yield rate rose to 15.00 percent from 13.62 percent. Similarly, the yield rate on the 182 days rose to 11.50 percent from 9.65 percent.
However, the yield rate for the 273 days fell to 12.99 percent from 13.00 percent. The yield rates for the 91 days and 364 days remained unchanged at 9.50 percent and 15.00 percent, respectively.
BoZ further revealed that the Currency in circulation fell by 1.24 percent in the week ending January 14, 2022 to K13,387.35 million from K13,555.34 million in the week ending December 31, 2021.
While The Lusaka Consumer Price Index rose by 0.85 percent in the period ending January 5, 2022 compared to a rise of 0.87 percent in the fortnight ending December 22, 2021.
The weekly average copper price on the London Metal Exchange (LME) rose by 1.65 percent in the week ending January 14, 2022 to $9,805.00 from $9,645.70 per tonne recorded in the week ending December 31, 2021.

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