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Middle East & Africa


Ugandan shilling rises slightly, more gains seen KAMPALA: The Ugandan shilling edged up on Friday on the back of banks selling dollars and market participants said it could rise further next week due to inflows from charity groups. At 0952 GMT, commercial banks quoted the shilling at 2,623/2,633, slightly up from Thursday's close of 2,627/2,637. "In the interbank we've seen some significant (dollar)selling which has strengthened the shilling," said Benon Okwenje, trader at Stanbic Bank."I am expecting strong inflows as we approach the end of month so the shilling should trade marginally stronger next week," he said, citing dollar inflows from non-governmental organisations operating in the country. The shilling is down 3.9 percent against the greenback in the year to date, under pressure from a range of factors, including aid stoppages by donor nations who were angered by the enactment of an anti-gay law earlier in the year. Daniel Muganza, trader at Centenary Bank, said the shilling ...

Kenya shilling steady as dollar demand offset by tight liquidity NAIROBI: The Kenyan shilling was steady on Friday with pressure from importers seeking dollars balanced by tight shilling liquidity.At 0820 GMT, commercial banks quoted the Kenyan currency at 87.70/90 to the dollar, compared with Thursday's close of 87.80/90."We are range-bound, but we have seen tightness in the money market ... so that's offering some support," said John Njenga, trader at Commercial Bank of Africa.He said the usual end-of-the-month demand for dollars from importers was expected ...
Kenyan shilling steady, seen easing as importers buy dollars NAIROBI: The Kenyan shilling was steady on Thursday and traders said they expected it to weaken in coming days due to importer demand from energy companies.At 0816 GMT, commercial banks quoted the shilling at 87.80/90 to the dollar, compared with Wednesday's close of 87.80/88.00.Traders said the shilling was expected to weaken once importers - who are sitting on the sidelines waiting for the shilling to strengthen - come in to buy dollars to pay for ...
Egyptian pound stable at central bank sale, stronger on black market CAIRO: The Egyptian pound was stable at a central bank dollar sale on Thursday but strengthened on the black market ahead of the Muslim Eid holiday next week.The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Monday.The rate for the dollar sales has stayed within a very tight range since the beginning of June, after it had allowed the pound to ...
Kenyan shilling stable, seen trading in narrow band NAIROBI: The Kenyan shilling was steady on Wednesday and traders said they expected it to keep trading in a narrow band in coming days as dollar inflows for an upcoming bond auction were soaked up by corporate demand.At 0727 GMT, commercial banks quoted the shilling at 87.80/88.00 to the dollar, compared with Tuesday's close of 87.80/90.The central bank will be auctioning a 2-year Treasury bond worth 10 billion shillings ($113.96 million)on Wednesday. Traders said the ...
South Africa's rand holds its own despite global tensions, local strike JOHANNESBURG: South Africa's rand traded virtually unchanged against the dollar on Tuesday, with market watchers expecting the currency to stay in narrow ranges given a lack of significant news to steer it.The rand has been resilient despite general global risk aversion spawned by political tensions in Ukraine and the Middle East, coupled with a domestic wage strike by metals and engineering workers now entering its fourth week.At 0647 GMT the currency traded at 10.6125 versus ...
Kenyan shilling steady, seen in tight range NAIROBI: The Kenyan shilling was treading water against the dollar on Tuesday and looked likely to stay in a tight range in coming days as the market expects the central bank would step in to keep it from appreciating, traders said.At 0715 GMT, commercial banks quoted the shilling at 87.75/85 to the dollar, unchanged from Monday's close."It's going to be range bound for now," said Andlip Nazir, senior trader at I&M Bank.Traders forecast a range ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln