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Kenyan shilling weakens on importer demand, stocks fall NAIROBI: Kenya's shilling weakened on Thursday, undermined by importer demand and the International Monetary Fund's view that the local currency was over valued.The main shares index fell on profit-taking.At close of trade, commercial banks quoted the shilling at 92.00/10 to the dollar, from Wednesday's close of 91.75/85.The IMF country representative told Reuters the shilling was over valued by about 5 to 10 percent to the dollar but demand for imports and other market pressures were likely to weaken it gradually so no policy change was needed.Traders said this also influenced the shilling."I think it's just pick-up in corporate demand, and I think also there was a statement that we saw on Reuters that said the IMF thinks the Kenya shilling was over valued," Duncan Kinuthia, head of trading at Commercial Bank of Africa, said.The shilling was helped in recent sessions by expectations of offshore interest in this week's 12-year infrastructure ...

C$ strengthens after Bank of Canada speech TORONTO: The Canadian dollar strengthened against its U.S counterpart on Thursday after a speech by Bank of Canada Governor Stephen Poloz in London was viewed by the market as less dovish than expected.In remarks that underscored the possibility the central bank will keep interest rates steady next month, Poloz said the bank's quarter-point rate cut in January has bought it time to examine the effects of cheaper oil on the economy of Canada, a major ...

South Africa's rand extends losses on dollar strength JOHANNESBURG: South Africa's rand extended losses against the dollar on Thursday, despite a hawkish monetary policy statement, mainly reflecting broad-based strength of the greenback against major currencies.Government bonds also weakened sharply, with the yield for the 2026 benchmark up as much as 16.5 basis points to 7.780 percent.Copyright Reuters, 2015

Dollar gains against euro but slips against yen, franc on Gulf worries NEW YORK: The US dollar recovered against the euro on Thursday on the view that central bank monetary policy remained more favorable for the greenback, while it slipped against the Japanese yen and Swiss franc concerns about Gulf oil supplies.The euro hit $1.10525 early Thursday, its highest since a nearly two-week high of $1.10625 on March 18 after the Fed released its latest policy statement, before erasing its gains. It last traded down 0.48 percent ...

Kenya shilling edges lower, corporate dollar demand weighs NAIROBI: Kenya's shilling weakened slightly on Thursday as the usual end-month corporate demand for dollars outweighed support from foreign exchange inflows after an oversubscribed bond auction.By 0735 GMT, the shilling was trading at 91.80/92.00 to the dollar, dipping from Wednesday's close of 91.75/85. Traders said it had opened the session slightly firmer at 91.70/80."I think the shilling will remain a bit on the back foot as we approach the end of the month," Martin Runo, ...

Yen, franc surge on Saudi worries, dollar weakens LONDON: The dollar sank to a five-week low against the yen on Thursday, hit by the combination of another round of poor U.S. data and a bid for traditional safe havens by investors worried about stock markets and oil supplies out of the Middle East.News that Saudi Arabia and its Gulf Arab allies had launched air strikes against Iran-allied forces in Yemen quelled risk sentiment and led to a surge in oil prices. This offered ...

Sterling gains after UK retail sales beat expectations LONDON: Sterling rose to a one-week peak against the dollar and hit a day's high against the euro on Thursday after British retail sales data beat expectations.Retail sales rose 0.7 percent in February, from a month earlier, leaving them 5.7 percent higher on the year. Economists had expected a rise of 0.4 percent on the month and an increase of 4.7 percent on the year, adding to strong growth in sales at the end of ...


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln