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Middle East & Africa


South Africa's rand stable, bonds edge higher ahead of MPC JOHANNESBURG: South Africa's rand was stable against the dollar early on Monday while bond yields hovered near 20-month lows, as emerging markets continued to benefit from the European Central Bank's larger-than-expected stimulus package.On the local front, traders and investors awaited Thursday's interest rate decision, with all 37 economists surveyed by Reuters last week predicting the Reserve Bank would hold interest rates at 5.75 percent.On Monday, the yield on the 2026 benchmark revisited last week's low of 7.135 percent, a level last seen in late May 2013, and was down 3 basis points at 7.14 percent at 0655 GMT compared to Friday's close.The rand was changing hands at 11.4210 to the greenback , where it ended the previous session in New York.The currency had rallied to 7 week highs last week after the ECB said it buy 60 billion euro ($67.28 billion) worth of assets each month to try and stimulate ...

Nigeria naira closes at record low despite central bank support LAGOS: Nigeria's naira closed at a record closing low of 190.60 to the dollar on Friday, despite the central bank intervening for a fifth day this week to prop up the currency, dealers said.The naira, which has been hard hit by falling oil prices, fell 1.2 percent against the dollar, from the previous day's close of 188.35 naira. Copyright Reuters, 2015 ...
Kenyan shilling steady, stocks up for third straight day NAIROBI: The Kenyan shilling held steady against the dollar on Friday on the back of tight local currency liquidity in the money markets, which usually makes it costlier to hold dollars.Stocks were higher for the third straight day.At the 1300 GMT close, banks quoted the shilling at 91.70/80 to the dollar, the same level as Thursday's close."It's been a bit tight on the money-market side and, due to that, the dollar/shilling did not really move ...
South Africa's rand surges against euro, bonds rally on stimulus JOHANNESBURG: South Africa's rand surged to its firmest in 19 months against the euro on Friday while bonds also rallied, as news of the European Central Bank's massive monetary stimulus bolstered appetite for emerging market assets. The rand was little changed against the dollar, however, with some investors taking a cautious tack ahead of next week's central bank rate decision. Against the euro, the currency of one of South Africa's largest trading partners, the rand ...
Rand surges vs euro, dollar after ECB turns on printing press JOHANNESBURG: South Africa's rand powered to its firmest in nearly 18 months against the euro on Thursday and notched up a 6-week high against the dollar after the European Central Bank unveiled a 60 billion euro-a-month asset purchase programme to boost growth. The rand strengthened more than 1 percent against the greenback to 11.3900 at 1545 GMT, breaching a resistance level around the 11.40 mark that had started to build up over the last two ...
Nigeria naira rebounds from record lows on central bank action LAGOS: Nigeria's naira recovered from record lows hit this week after the central bank increased forex trading limits and sold dollars to commercial lenders on Thursday, dealers said.The unit rose 0.45 percent to close at 188.35 naira after ending at a record closing low of 189.20 for the two previous sessions.Liquidity conditions have deteriorated as the naira has slumped to record lows because dollar inflows from foreign investment and other sources have dried up.The central ...
Kenya shilling weakens, shares edge higher NAIROBI: The Kenyan shilling edged down against the dollar on Thursday, though traders said they saw signs of the currency strengthening in the coming days with more dollars coming into the market. Stocks were up.At the 1300 GMT close, banks quoted the shilling at 91.70/80 to the dollar, weaker than Wednesday's close of 91.60/70."It's staying with the trend of weakening," said Duncan Kinuthia, head of trading at the Commercial Bank of Africa. "However, we've started ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln