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Middle East & Africa


Kenyan shilling eases, seen under pressure NAIROBI: The Kenyan shilling weakened against the dollar on Tuesday due to demand from manufacturers, and traders expect it to ease further in the days ahead.At 0730 GMT commercial banks quoted the shilling at 87.00/87.10 to the dollar, from Thursday's close of 86.85/95.The shilling was weakening, with importers in manufacturing and energy buying dollars towards the end of the month."The shilling is on a weaker note. We are seeing some pressure build up. We are going to see end of month demand coming in," Andlip Nazir, senior trader at I&M bank, said."(As for) inflows, I see them not being that much. We expect the dollar to gain against the shilling in the days ahead.There will be pressure."Sheikh Mehran, a senior trader at Kenya Commercial Bank, said the shilling had also eased due to interbank dollar demand.Traders said the shilling could get some relief if the central bank came to the ...

South African rand seen under pressure over mine strike, Ukraine JOHANNESBURG: South Africa's rand was largely flat against the dollar on Tuesday as trading resumed after the Easter holiday, with a local mine strike that has dragged on for months as well as political turmoil in Ukraine posing downward risks for the currency. By 0650 GMT the rand was quoted at 10.5125 per dollar, slightly down from its previous close at 10.5090. "The rand is still exhibiting a weaker bias, due to the uncertainty surrounding ...
Kenya shilling steady, seen vulnerable after Easter NAIROBI: The Kenyan shilling was steady on Thursday, but traders said the currency was vulnerable and could weaken next week as month's end demand for dollars increases.At the 0746 GMT, commercial banks quoted the shilling at 86.85/95 to the dollar from Wednesday's close of 86.80/90.The shilling touched 87.00/87.10 on Tuesday, its weakest in more than three months, and some traders said the currency was likely to weaken to that level after the Easter holiday, when ...
South Africa's rand, gov't bonds hold steady before long weekend JOHANNESBURG: South Africa's rand firmed within a recent range on Thursday, trading sideways for a second session as investors avoided taking big positions ahead of a long weekend. The rand was at 10.5400 to the dollar at 0647 GMT, 0.25 percent off a 10.5665 close in New York on Wednesday and trading within levels set two sessions ago. Government bonds tracked the currency's moves and yields were just a notch firmer on the 2026 and ...
Kenyan shilling steady, stocks down slightly NAIROBI: The Kenyan shilling was steady on Wednesday and traders said it was expected to be lifted by tea exporters selling dollars and the central bank's mopping-up of excess liquidity.Stocks edged lower.At the 1300 GMT close of trade, commercial banks quoted the shilling at 86.80/90 to the dollar, compared with Tuesday's closing rate of 86.85/95."We saw some flows coming in yesterday from tea and that is what maybe has support the local unit. That's why ...
Kenyan shilling flat, eyes on the central bank NAIROBI: Kenya's shilling was treading water against the dollar on Friday, with traders expecting central bank liquidity mop ups to prop up the local currency over coming days.Leading commercial banks at 0730 GMT quoted the shilling at 86.35/55, unchanged from Thursday, in thin volumes.The Central Bank of Kenya (CBK) has frequently drained liquidity over the past month after overnight borrowing rates tumbled. The falling overnight rate made it cheaper for banks to fund long dollar ...
Kenyan shilling unchanged, seen stuck in a range NAIROBI: Kenya's shilling was flat on Thursday, with traders expecting the local currency to be stuck in a range against the dollar.Leading commercial banks at 0820 GMT quoted the shilling at 86.50/60, unchanged from Wednesday, in thin volumes."It's fairly quiet. The market is devoid of drivers and that ... leaves us stuck in a tight range," said Commercial Bank of Africa trader Joshua Anene.Anene said the shilling has been trading in a narrow band between ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
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WeeklyApril 14, 2014
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