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Kenya shilling holds steady, underpinned by central bank operations NAIROBI: Kenya's shilling remained shackled to 86.60/70 in early trading on Tuesday, supported by expectations that the central bank will keep draining excess liquidity from the money market, traders said. The 86.60/70 level - where the shilling ended Monday - was nudging the local currency's support level, market participants said. "It's at its top.It's a good opportunity for exporters, they've been sniffing around," said Sheikh Mehran, senior trader at Kenya Commercial Bank. Traders anticipated the Central Bank of Kenya would maintain its policy of absorbing excess liquidity to support the shilling. Taking shillings out of the market helps lift the overnight lending rate, making it more expensive for banks to hold long dollar positions. The central bank mopped up 10.9 billion shillings ($125.8 million) on Monday. Bank of Africa said there was reduced dollar demand from corporate clients now that the typical end-month rush for dollars had subsided. Copyright Reuters, ...


Sterling surges on jump in industrial output LONDON: Sterling rose to its highest in three weeks against the dollar and a one-month maximum against the euro after data on Tuesday showed industrial output rose much faster than forecast in February. The pound has struggled to make more progress against both the dollar and euro over the past two months as doubts over the durability of Britain's economic recovery emerged and traders judged the bulk of the good economic news to be priced ...

South Africa's rand hits strongest level in 2014, bonds firm JOHANNESBURG: South Africa's rand hit its strongest level against the dollar this year in Tuesday's early trading session as positive momentum continued for riskier emerging market currencies. At 0631 GMT, the rand hit 10.4645, its strongest level this year against the greenback and over half a percent stronger on the day, from Monday's New York close of 10.5295. "It is emerging markets strengthening really, it is a continuation of the trend, we were struggling to ...

Yen at 10-day high vs dollar as BoJ offers little on more easing LONDON: The yen rose on Tuesday, as some investors trimmed bets against it after the Bank of Japan held off from additional easing and Governor Haruhiko Kuroda offered little indication that more stimulus was likely in the short term. The dollar fell 0.4 percent to a 10-day low of 102.615 yen while the euro shed 0.2 percent to 141.30 yen. The yen, which was also being helped by a drop in stock markets with which ...

Sri Lankan rupee recovers on inflows, exporter dollar sales; shares up COLOMBO: The Sri Lankan rupee recovered on Tuesday due to remittances from migrant workers and exporter dollar sales ahead of the festive season, dealers said.The spot rupee was traded at 130.60/65 per dollar at 0522 GMT, firmer from Monday's close of 130.68/70. "Inflows from remittances and exporter conversions strengthen the rupee," said a currency dealer. Dealers said the rupee is likely to trade between 130.50 and 130.80 in the short to medium term and could ...

Yuan rises slightly in minimal volatility after US warning SHANGHAI: The yuan strengthened slightly on Tuesday as the central bank firmed the official guidance rate, but volatility remained minimal as traders await new signs of direction from Beijing.Returning from a three-day weekend, the central bank set the official midpoint rate at 6.1527 per dollar on Tuesday morning, 0.05 percent firmer than Friday's close, and the spot rate also strengthened to 6.2070 by midday.But the spot rate traded within an extremely tight range, as it ...

Australian dollar takes a breather, NZD up for 3rd session SYDNEY/WELLINGTON: The Australian dollar conserved its energy on Tuesday after repeatedly failing to break resistance above 93 cents, while the New Zealand dollar's relatively high interest rates helped it climb for a third straight session. The Aussie was firm at $0.9282, within sight of a 4-1/2-month peak of $0.9310 touched last week.The 93 cent barrier has proved a major obstacle to bulls, who have failed four times to sustain a break. Still, the Aussie managed ...


 



 
Index Closing Chg%
Arrow DJIA 16,262.56 0.55
Arrow Nasdaq 4,034.16 0.29
Arrow S&P 1,842.98 0.68
Arrow FTSE 6,541.61 0.64
Arrow DAX 9,173.71 1.77
Arrow CAC-40 4,345.35 0.83
Arrow Nikkei 13,996.81 0.62
Arrow H.Seng 22,671.26 1.60
Arrow Sensex 22,484.93 0.64





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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln