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Middle East & Africa

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Egypt pound inches weaker at Monday forex auction CAIRO: The Egyptian pound edged weaker at a central bank foreign exchange auction on Monday but it strengthened on the black market.The bank said it sold $38.9 million to banks at the auction, with the cut-off price weaker at 6.9858 Egyptian pounds to the dollar compared to 6.9835 at Thursday's auction.On the black market, one dealer in central Cairo quoted 7.55 pounds to buy dollars and 7.60 pounds to sell dollars, compared to 7.58 and 7.63 on Thursday.The central bank introduced the auctions at the end of December to help stave off a currency crisis and thwart a run on the pound. Since then, the currency has lost almost 11 percent of its value on the official market.Copyright Reuters, 2013 ...

South Africa Treasury says appoints managers for foreign loan JOHANNESBURG: South Africa's Treasury has appointed Standard Bank, Deutsche Bank and Rand Merchant Bank as joint-lead managers and Investec as co-lead manager for the issuance of a foreign currency loan, it said on Wednesday."The loan will form part of the government's financing of its foreign currency commitments as stipulated in the 2013 budget documents," it said, adding that the process of issuing a Sukuk remained in place as a medium-term project. Copyright Reuters, 2013 ...
Oman govt considers dollar bond issue in 2014: central.bank DUBAI: Oman's government is considering a proposal to issue dollar-denominated sovereign bonds sometime in 2014, which could lead to regular bond sales in the future, the oil exporter's central bank said on Wednesday."By re-establishing Oman's presence in the international bond market, a sovereign issue could pave the way for regular deficit financing through bond issues in future, if need be," it said in a financial stability report. Copyright Reuters, 2013 ...
South Africa's rand falls 1.2pc to new 4-year low against dollar JOHANNESBURG: South Africa's rand fell more than 1.2 percent to a fresh 4-year low against the dollar on Tuesday, extending earlier losses in a market bracing for what is likely to be a weak first quarter GDP print.The rand hit 9.7130 per dollar, its weakest level since March 2009, compared with Monday's close at 9.5914.Copyright Reuters, 2013 ...
Nigeria sells 110bn naira in bonds, yields up LAGOS: Nigeria sold 110 billion naira ($698.86 million) worth of bonds with maturities ranging from five years to 20 years at higher yields across, apart from a note maturing in 2015, the Debt Management Office (DMO) said on Thursday.All notes are re-opening of previously issued bonds.The debt office said it sold 35 billion naira in the 20-year bond, 25 billion naira in the 7-year paper and 50 billion in the 5-year notes.The DMO sold the ...
Nigeria plans 121bn naira T-bill auction LAGOS: Nigeria plans to sell 121.33 billion naira ($771 million) worth of treasury bills with maturities ranging from three months to one year at its twice-monthly auction on May 22, the central bank said on Wednesday.The bank said it will auction 20.65 billion naira in 91-day bills, 30 billion naira in 182-day notes and 70.68 billion naira in 364-day paper, using the Dutch auction system.Yields at the last T-bill auction on May 9 fell as ...
South Africa's rand firms vs dollar with higher commodity prices JOHANNESBURG: South Africa's rand gained against the dollar early on Monday as resource-heavy currencies were supported by higher commodity prices and global monetary stimulus was expected to support inflows to emerging market bonds.Dealers expect that the European Central Bank (ECB) will cut interest rates later this week, driving investors to higher yielding emerging markets such as South Africa."Monetary policy accommodation beyond our borders benefits the rand mainly via the support it offers to the global ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln