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Middle East & Africa


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 ...
South African bonds supported, rand weakens on softer euro JOHANNESBURG: The yield spread on South African benchmark 2026 and 2015 bonds narrowed to its lowest in a year on Thursday, as lower-than-expected inflation data gave support to longer-dated bonds.Data on Wednesday showed CPI was unchanged at 5.9 percent year-on-year in March, undershooting market expectations for price growth to hit the upper end of the central bank's 3 to 6 percent target.The yield on the 2026 dropped to a record low of 6.87 percent, giving ...
Yields on Egypt T-bills climb at Thursday's auction CAIRO: The average yield on Egyptian 182 and 357 day treasury bills rose sharply in an auction on Thursday, figures released by the central bank showed, following an interest rate hike last week.The average yield on 182-day T-bills for April 2 issue rose to 13.813 percent from 13.031 percent at the previous issue on March 26.The yield on 357-day T-bills also for April 2 issue rose to 14.463 percent from 13.776 percent in the previous ...
Ghana to issue 400mn cedi 3-year bond on March 7 DAKAR: Ghana will issue a 400 million cedi ($210 million) three-year government bond on March 7 to service maturing debts, the West African nation's central bank said on Tuesday.   The bank said in a statement that the funds generated from the auction would be used for "government budget support and to rollover maturing debt."   It said settlement will take place on March 11.   Copyright Reuters, 2013 ...


Index Closing Chg%
Arrow DJIA 18,010.68 0.64
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Arrow Sensex 27,828.44 1.17

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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 $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln