14 May 2014

Mozambique: Information On Markets Evolution

Maputo — This week was marked by a mixed behavior of financial markets. At the beginning of the week, there was a deterioration trend of some indices like the FTSE in London and NASDAQ in New York, due to fears of U.S.

housing market deterioration. However, the week closed with recovery trends, due to the openness shown by Russian President, Vladimir Putin, to discuss the Ukrainian crisis with the West.

In the energy sector, the Brent barrel kept rising. After starting the week at USD 107.37/Brent barrel and USD 99.1 per WTI barrel traded in New York, the week ended with the barrel being traded at USD 107.74 and USD 100,77, respectively. This represents an increase of 0.3 % of the price of a Brent barrel and 1.7 % per WTI barrel.

In its turn , the Natural Gas had the same behavior, despite a slight slowdown in its rate of growth. So after starting the week trading at USD 4.68 per cubic meter, it ended the week at USD 4.73.

In Mozambique, the Interbank Money Market ( IMM ) was stable, without major changes in its main indicators. However, after a month without intervening in the Market Treasury Bills (TBs), the Bank of Mozambique, made on May 7, a primary placement of treasury bills in the amount of 1,635 million MT and 1.400 million MT for maturities of 182 and 365 , with interest rates of 6.44 % and 7.23 %, respectively.

At the Interbank Foreign Exchange Market (MCI) the week began with a depreciation trend of the metical against the U.S. dollar (buying: 30.54 MT / selling 30.74 MT). Until Thursday, the reference exchange rate of Bank of Mozambique was 30.56 MT buying to 30.76 MT selling, which represents a reduction of 0.1 % . The South African Rand, in its turn, remained stable having being traded at 2.91 MT buying and 2.93 MT selling.

In this period, commercial banks charged an average spread of 2.01 % on the transaction with the Euro; 1.98 % on American Dollar transaction and 2.02 % in South-African Rand transaction, which shows that South - African rand has the highest average spread.

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