Business

BoZ absent on open market

BOZ

TRYNESS TEMBO, Lusaka
THE Bank of Zambia (BoZ) was last week absent on the open market operations (OMOs), despite the Kwacha being on the back foot against the United States (US) dollar.
Last week, the local unit broke the K10 mark following increased demand for the greenback on the market.
OMO is an activity by a central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks.
Zanaco says the local market liquidity level on Thursday reduced to K683.88 million from K868.70 million seen previously.
“The central bank maintained a quiet position in the open market operation .The overnight lending and READ MORE

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