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Middle East & Africa


South Africa's rand firmer, could weaken if GDP below forecasts JOHANNESBURG: South Africa's rand touched a 1-1/2 week high against the dollar on Friday, supported by a risk-positive global environment, but could retreat next week if GDP data comes in weaker than expected, undermining the case for more rate hikes this year. By 1535 GMT the rand was trading at 10.3055 to the greenback, up 0.22 percent from Thursday's New York close at 10.3280. Government bonds were little changed from their previous close, with the yield for the 2026 government bond edging up 2.5 basis points to 8.05 percent.The bond maturing in 2015 was unchanged at 6.55 percent.The rand climbed to 10.2965 earlier on Friday, its strongest since May 15, with sentiment still buoyed by what the market saw as a fairly hawkish central bank statement on Thursday, despite keeping the benchmark repo rate unchanged at 5.5 percent. But next week's first quarter GDP data is likely to point to ...

Egyptian T-bill yields fall for second auction in a row CAIRO: Average yields on Egyptian 91- and 266-day treasury bills fell for the second auction in a row on Sunday, coming down from their high of several months, days before Egypt is due to hold presidential elections.For the 91-day t-bill, average yields fell to 10.449 percent from 10.564 percent. For the 266-day bill, they fell to 10.787 percent from 10.942 percent at their last auction on May 11. Sunday's yields were the lowest for the ...
Nigeria to raise 121bn naira in T-bills LAGOS: Nigeria plans to raise 121.32 billion naira ($747 million) via short-dated treasury bills at an auction next week, the central bank said on Wednesday. The bank said it will sell 20.64 billion naira of 91-day paper, 25 billion naira of 182-day treasury bills and 75.68 billion one-year paper, using the Dutch Auction System. Copyright Reuters, 2014 ...
Kenya central bank says to auction 15bn shillings of 2 year T-bonds in May NAIROBI: Kenya's central bank said on Thursday it will auction up to 15 billion shillings ($172 million) of two-year Treasury bonds in May. Sale proceeds will be used for budgetary support, the Central Bank of Kenya said. The bonds will be on sale between May 7 and May 20 and auctioned on May 21. At the last sale of two-year bonds in March, the weighted average yield fell to 10.803 percent from 11.553 percent previously. ...
Egyptian treasury bill yields jump to four-month high CAIRO: Egyptian 91-day and 266-day treasury bill yields jumped to their highest in more than four months on Sunday as demand for government securities declined amid expectations of a central bank interest rate cut in the next quarter.The average yield at a sale of 2 billion Egyptian pounds ($285.41 million) of 91-day bills rose to 10.637 percent, its highest since November 26, from 10.423 percent at the last such auction on April 27.The yield at ...
Kenya Treasury bills seen easing, subscriptions to rise NAIROBI: The yields on Kenyan Treasury bills are likely to ease slightly next week, with subscription rates expected to stay high due to increased shilling liquidity in the money markets. Next week, the central bank will auction 9 billion shillings' ($103.57 million) worth of 91-day, 182-day and 364-day Treasury bills. At this week's sale on Wednesday, the weighted average yield on the 91-day bills rose slightly to 8.799 percent from 8.783 percent previously, while that ...
Morocco sees 2014 borrowing needs at 2.5bn euros TUNIS: Moroccan Finance Minister Mohamed Boussaid said on Tuesday Morocco's external borrowing needs this year will reach 2.5 billion euros to plug the deficit estimated at 4.9 pct of the gross domestic product (GDP).It is not clear, however, when the government will issue foreign bonds, the minister added on the margin of the Arab finance ministers meeting in Tunis. Last year Boussaid said Morocco may raise 1 billion euros in international bonds issue at the ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln