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Kenyan shilling weakens to near 3-year lows on dollar buying NAIROBI: Kenya's shilling fell to a new three-year low on Tuesday, weakened by concerns the central bank has wiped out some of its reserves and due to falling revenue from the tourism and tea sectors, while shares also retreated.At the 1300 GMT close of trade, commercial banks posted the shilling at 90.30/90.40 against the dollar, weaker than Monday's closing level of 90.05/90.25 against the dollar."People are waiting to see if the central bank will intervene again," said Ian Kahangara, a trader at the National Bank of Kenya. He added the shilling had been negatively impacted by recent interventions that had wiped out some of its reserves.The central bank sold dollars on Thursday and Friday last week to prop up the shilling, on both occasions offering dollars when the local currency was around the 90.30-level.The shilling has weakened by 4.64 percent against the dollar so far this year, under pressure from ...

Egypt sold $1.796bn of dollar-denominated T-bills CAIRO: Egypt's central bank said it sold $1.796 billion in one-year dollar-denominated treasury bills to local banks and foreign financial institutions on Monday, more than the bank had expected when it announced the auction. The government has relied mainly on the local money market to finance its public deficit since a popular uprising in early 2011 that deterred many foreign investors. Announcing thhe auction last Thursday, the central bank said it intended to sell $1.75 ...
Egypt sells 734.3mn euros of 1-year T-bills: central bank CAIRO: Egypt's central bank said on Monday it had sold 734.3 million euros ($917.80 million) in euro-denominated one-year treasury bills at an average yield of 1.894 percent.The government has turned mainly to the local money market to finance its public deficit since Egypt's popular uprising in early 2011 deterred most foreign investors.Copyright Reuters, 2014 ...
South Africa's bonds, rand end week firmer JOHANNESBURG: Yields on South African government bonds dropped to two-week lows on Friday, reflecting an upbeat mood in emerging markets as a falling oil price improves prospects for benign inflation. The South African Reserve Bank is due decide on interest rates next week and dealers say the combination of moderating inflation domestically, a relatively stable rand and the lower price of Brent crude should see the central bank stay put on interest rates. The yield ...
Kenya 91-day T-bills yield falls to 8.670pc NAIROBI: The weighted average yield on Kenya's 91-day Treasury bills fell to 8.670 percent at auction on Thursday from 8.706 percent last week, the central bank said. The bank received bids worth a total 458.5 million shillings ($5.13 million) for the 3 billion shillings worth of bills on offer, and accepted the entire amount.Copyright Reuters, 2014 ...
Kenya 91-day Treasury bill yield falls to 8.706pc NAIROBI: The weighted average yield on Kenya's 91-day Treasury bills fell to 8.706 percent at auction on Thursday from 8.715 percent a week ago, the central bank said. The bank said it received bids worth 639 million shillings ($7.16 million) for the 3 billion shillings worth of bills on offer, and accepted the entire amount. The bank said it would auction a 91-, 182- and 364-day Treasury bills worth a total of 12 billion shillings ...
Egyptian pound steady on official, weaker on black market CAIRO: Egypt's pound held steady at a central bank dollar sale on Wednesday, when the bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar.The price was unchanged from Monday's sale.In the unofficial market, the pound was trading at 7.40 to the dollar, weaker than Monday's rate of 7.38 to the dollar, one trader said.The rate for dollar sales has stayed in a tight range since the beginning of June, ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln