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Kenyan shilling eases, main share index nears three-year low NAIROBI: The Kenyan shilling weakened on Tuesday due to increased dollar demand while the stock exchange's main index closed just above a three-year low.At close of trade, commercial banks quoted the shilling at 103.25/35 to the dollar, compared with Monday's close of 102.90/103.00. Earlier in the session it had touched 103.50/60 before reversing its losses, traders said.The shilling, which has lost 12 percent against the dollar this year, firmed in the past two weeks due to dollar inflows from offshore investors attracted by the interest rates of more than 20 percent on government Treasury bills.On the Nairobi Securities Exchange, the main NSE-20 Share Index was down 12.79 points, to close at 3,978.70 points. The index hit a three-year low when it closed at 3,971.68 points on Oct. 8, 2012.Virginia Wairimu, research analyst at Suntra Investment Bank, said among the companies whose shares closed lower were commercial banks, with investors anticipating ...

Ugandan shilling weakens due to commercial bank dollar demand KAMPALA: The Ugandan shilling weakened on Tuesday, sapped by dollar demand from commercial banks, but was seen getting support from companies making local currency denominated tax payments.At 0916 GMT commercial banks quoted the shilling at 3,670/3,680, weaker than Monday's close of 3,660/3,670."Demand has come in from both local and offshore commercial banks ... that has created some pressure for the shilling," said Faisal Bukenya, head of market making at Barclays Bank Uganda.Bukenya said whenever the ...
Ugandan shilling stronger, helped low dollar demand, tight liquidity KAMPALA: The Ugandan shilling was slightly firmer on Monday due to subdued dollar demand and tight liquidity in the money markets, traders said.At 0905 GMT, commercial banks quoted the shilling at 3,668/3,678, stronger than Thursday's close of 3,675/3,685. Markets were closed on Friday for a national holiday."Some players in the interbank are cutting back their (dollar) positions because there's no demand," said Ali Abbas, trader at Crane Bank."I have also seen some banks doing conversions ...
Kenyan shilling strengthens on foreign debt inflows SNAIROBI: The Kenyan shilling strengthened on Thursday as foreign investors bought Kenya's high-yielding debt. Stocks were down.At the 1330 GMT close, commercial banks posted the shilling at 103.00/10, gaining from Wednesday's closing 103.25/35."The shilling is firmer on the back of increasing yield appeal" from the central bank's Treasury bill auction on Wednesday, said a trader at a major commercial bank in Nairobi.At Wednesday's auction, the weighted average yield on Kenya's 364-day Treasury bills jumped to ...
Egyptian pound steady at dollar sale, weaker on parallel market CAIRO: Egypt's central bank kept the pound steady at a dollar sale on Sunday, as it sold $37.8 million at a cut-off price of 7.7301 pounds per US currency. Traders said the pound was weaker on the parallel market. The official cut-off price was unchanged from Thursday's dollar sale, but two traders said the dollar was changing hands at 8.15/17 to the dollar in the parallel market, weaker than Sunday's rate of 8.05. Egypt has ...
Uganda shilling little changed, long weekend dampens importer demand KAMPALA: The Ugandan shilling firmed slightly on Thursday amidst sluggish demand as importers and other buyers stayed on the sidelines ahead of a long weekend.At 1001 GMT commercial banks quoted the shilling at 3,675/3,685, slightly stronger than Wednesday's close of 3,678/3,688. "The local unit is drawing support from an absence of demand," said Faisal Bukenya, head of market making at Barclays Bank. Bukenya said appetite from importers was especially low as a long weekend approached. ...
Kenyan shilling edges down, T-bill auction eyed NAIROBI: The Kenyan shilling was slightly weakened against the dollar on Wednesday, with traders saying they were awaiting the outcome of a Treasury bill auction to determine the direction the currency might take. Stocks were up.At the 1330 GMT close of trade, commercial banks posted the shilling at 103.35/45, after Tuesday's close of 103.20/30."It's pretty stable. Both demand and supply are well-matched," said a trader with a leading commercial bank.Kenya's central bank will auction 182- ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln