02072016Sun
Last update: Sun, 07 Feb 2016 08am

Markets - FXMM

Markets - FXMM - Middle East & Africa

Kenyan shilling strengthens slightly against the dollar NAIROBI: The Kenyan shilling strengthened slightly on Wednesday as demand for dollars remained subdued.At the 1330 GMT close of trading, commercial banks posted the shilling at 102.20/30 per dollar, compared to the previous day's close of 102.25/35."It's marginally stronger on the back of very limited demand today," said a trader with a commercial bank.The shilling has been stable this year after weakening 11 percent last year.Copyright Reuters, 2016


Markets - FXMM - Europe

Dollar steadies as traders eye Fed for interest rate clues LONDON: The dollar struggled to gain traction on Wednesday, with investors awaiting the outcome of a Federal Reserve meeting for clues whether bets on a single U.S. interest rate rise in 2016 are justified.Australia's dollar meanwhile hit a three-week high after one measure of domestic inflation came in slightly higher than expected, and as less jittery global markets gave a small boost to appetite for riskier currencies.But Wednesday's main focus will be on the statement ...

Markets - FXMM - Middle East & Africa

Ugandan shilling unchanged as demand curbed ahead of election KAMPALA: The Ugandan shilling was steady on Wednesday as hard currency buyers continued to stay on the sidelines, possibly limiting economic activity ahead of the Feb. 18 presidential election.At 0919 GMT commercial banks quoted the shilling at 3,470/3,480, unchanged from Monday. Markets were closed in Uganda on Tuesday as it was a holiday."We're not seeing any buying interest from the usual big clients. They are cautious, may be waiting to come in after the election," ...

Markets - FXMM - Asia

Sri Lankan rupee steady amid importer dollar demand, outflows COLOMBO: The Sri Lankan rupee closed unchanged on Wednesday amid importer dollar demand and foreign outflows from t-bonds, as banks were reluctant to trade below the 144.00 level desired by the central bank, dealers said."We saw foreign investors selling some bonds," a dealer said asking not to be named. Another dealer said there was importer dollar demand and nobody was trading the spot rupee below 144.00.The spot rupee ended flat at 144.00/20 per dollar.The rupee ...

Markets - FXMM - Middle East & Africa

Dollar surges against Egyptian pound after central bank raises cap on deposits CAIRO: The dollar surged against the Egyptian pound on the black market on Wednesday, a day after the central bank raised a cap on foreign currency deposits, prompting currency-starved importers to source dollars from the parallel market.Egypt's central bank said on Tuesday it would raise its cap on foreign currency deposits to $250,000 a month specifically for imports of food, capital machinery, manufacturing components and medicines to help them settle their bills.The cap raises the ...

Markets - FXMM - Europe

Russian rouble falls back with oil MOSCOW: The Russian rouble opened weaker on Wednesday, tracking a fall in oil prices after strong gains on Tuesday.At 0740 GMT, the rouble was 1.3 percent weaker against the dollar at 79.30 and had lost 1.4 percent to trade at 86.03 versus the euro.Oil, Russia's main export, remains the main driver of the rouble's performance, analysts said. Crude oil futures declined on Wednesday, heading back towards $30 a barrel."Again, the rouble literally remains an 'oil ...

Markets - FXMM - Middle East & Africa

South Africa's rand firmer, but will struggle to sustain gains JOHANNESBURG: South Africa's rand was a tad firmer against the dollar on Wednesday, in a market anticipating an interest rate hike as the central bank fights inflation pressures. But analysts said the rand was not likely to gain on a sustainable basis, being at the mercy of general risk aversion as investors worry about the impact of slowing growth in China.At 0651 GMT the rand was trading at 16.4050 versus the dollar, up 0.09 percent ...