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ZAMBIA
 

Table B. Data Categories and Indicators
 

External Sector
 

DATA CATEGORY:   Exchange Rates

National Descriptor (as applicable):  

CORE INDICATORS:   Spot rates

ENCOURAGED EXTENSIONS (as applicable):  

Country-Specific Indicator (as applicable):   
 
CONTACT PERSON(S):  
Dr. Richard Chembe
Director - Economics Department
Bank of Zambia
P.O. Box 30080,
Lusaka. Zambia
Telephone: 260-1-222560
Fax: 260-1-221722
dkalyalya@boz.zm

Mrs Caroline Nyimba Ngambi
Director - Financial Markets Agency:
Bank of Zambia
Financial Markets Department
P. O. Box 30080
Lusaka, Zambia
Telephone: 260-1-225008
Fax: 260-1-221189

Date Metadata Updated:  July 2002

I. Data Characteristics

Coverage
The exchange rate is market determined, with any foreign exchange intervention aimed at moderating the rate of change and preventing undue fluctuations in the exchange rate, rather than at establishing a level for it. The Bank of Zambia determines the official exchange rates through an auction held at the Bank whereas commercial banks determine their inter-bank and customer (retail and corporate) rates prevailing in the market based on the cost of acquisition of their foreign exchange. Though individual financial institutions decide on the appropriate exchange rates to use for particular transactions, it is the Bank of Zambia's responsibility to ensure the publication and dissemination of average exchange rates of financial institutions and those prevailing at the Bank of Zambia.

The practice in Zambia is to report weekly, monthly, quarterly and annually the end of period and period average Kwacha per U.S. dollar exchange rate.

The Bank of Zambia disseminates the following Kwacha per U.S. dollar exchange rates via print media and the Bank of Zambia website - www.boz.zm:

The official rate

Daily buying rate, selling rate and mid-rate

Average retail and corporate rates of the commercial banks

Daily buying rate, selling rate, and mid-rate

The buying, selling and mid rates as well as end period and average rates for the BoZ, the commercial banks and the bureaus for Kwacha per South African Rand, Kwacha per pound Sterling and the Kwacha per US dollar are disseminated through the Bank of Zambia's "Statistics Fortnightly" bulletin.

Periodicity
Daily, weekly, monthly, quarterly and annually

Timeliness
Daily rates are available in the statistics Fortnightly five days after the end of covered Fortnight.

II. Quality

Documentation of Methodology
Not applicable.

Data to Support Cross-checks and Assurance of Reasonableness
Not applicable.

III. Plans for Improvement

Recent Improvements
None

Short-term
Exchange rate data will be disseminated on the website.

Medium-term
Technical Assistance/Financing Needs/Other Prerequisites

    Short-term

    Medium-term

IV. Dissemination Formats

Hard Copy (News Release)

Publication (Weekly, Monthly, Quarterly ["Quarterly Financial and Statistics Review", published in English, (the Bank of Zambia contact person is Head of Public Relations E-mail: pr@boz.zm).], Annual ["Annual Report", published in English, (the Bank of Zambia contact person is Head of Public Relations E-mail: pr@boz.zm).], Other ["Fortnightly Statistics Bulletin", published in English (the Bank of Zambia contact person is Head of Public Relations E-mail: pr@boz.zm).])

Electronic (Internet [A redesigned website should be in place by year (2003) end])

Other Online ( CD-ROM, Diskette, Other (specify), None )