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Ugandan shilling weakens on central bank liquidity injection KAMPALA: The Ugandan shilling weakened on Wednesday after an injection of local currency liquidity by the central bank eased scarcity among commercial banks.At 0851 GMT commercial banks quoted the local currency at 2,855/2,865, weaker than Tuesday's close of 2,845/2,855.Ahmed Kalule, trader at Bank of Africa said tight shilling liquidity in recent trading sessions had pushed up rates for overnight and one-week funds in the interbank market."The central bank came in with a reverse repo to ease the scarcity and after that we saw a surge in interbank demand (for dollars)," he said.The shilling has lost about 3 percent against the dollar this month, partly due to dollar demand from commercial banks who were stocking up on greenbacks on fears the United States would imminently hike interest rates.Speculative activity has also been fingered by the central bank which has sold hard currency five times this month to try to tame demand ...


Sterling steadies against dollar, Fed eyed for rate hike clues LONDON: Sterling steadied against the dollar on Wednesday after two days of gains as investors waited to hear whether the U.S. Federal Reserve was still on track to deliver interest rate rises soon despite a rapidly strengthening dollar.Bank of England Chief Economist Andrew Haldane reiterated the Bank's message that it was in no rush to raise interest rates and that when hikes do come, they will be gradual - perhaps as little as a half ...

Emerging markets weaker pre-Fed, naira plumbs new lows LONDON: The Nigerian naira plumbed new record lows on Wednesday on weaker oil prices and fears of election-linked turmoil, while most other emerging currencies also retreated on expectations of monetary easing.Broader emerging markets were range-bound with a weaker bias before a meeting of the U.S. Federal Reserve which many expect to signal a delay in monetary tightening amid signs that a stronger dollar is hurting U.S. corporate profits.The greenback firmed on Wednesday, pressuring emerging currencies ...

Dollar climbs, but caution reigns before Fed statement LONDON: The dollar rose against a basket of currencies on Wednesday, recouping some of the previous day's sharp losses, on expectations the Federal Reserve is unlikely to deliver significant changes to its policy outlook.Two-year Treasury yields held above 0.51 percent in European trade, providing support to the dollar. It fell on Tuesday after weaker-than-forecast corporate earnings and durable goods data.The Fed's first two-day policy meeting of the year concludes on Wednesday, and policymakers will likely ...

Russian rouble slides on oil, threat of more sanctions MOSCOW: The Russian rouble weakened on Wednesday, with a retreat in oil prices and a threat of new sanctions on Moscow for its role in the Ukraine crisis promising to weigh on the currency in the near future.At 0738 GMT, the rouble was around 0.5 percent weaker against both the dollar and the euro, trading at 67.15 76.32, respectively. Oil, Russia's chief export, fell towards $49 per barrel.Russian stocks rose, with the dollar-based RTS index ...

Kenyan shilling firms on tight liquidity, gains seen short-lived NAIROBI: The Kenyan shilling firmed on Wednesday helped by tight liquidity in the money markets but traders said the local currency was expected to stay under pressure due to end-month importer demand for dollars.At 0745 GMT, commercial banks quoted the shilling at 91.50/60 to the dollar, compared with Tuesday's close of 91.60/70.Traders said the shilling was receiving support from a shortage of the local currency after investors bought Treasury bills and bonds worth a total ...

C$ firms as greenback weakens; focus on Fed TORONTO: The Canadian dollar strengthened against a broadly weaker US dollar on Tuesday with oil prices stable and the market shifting focus toward this week's US Federal Reserve policy meeting.The greenback fell after data showed US durable goods orders for December were weaker than expected, while quarterly results from US companies pushed the stock market into negative territory."Essentially (it has) given a little bit of a pause in the US dollar rally, so you're seeing ...


 



 
Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln