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Ugandan shilling hits record low as traders see no intervention KAMPALA: The Ugandan shilling hit a new all-time low on Tuesday as commercial banks snapped up dollars after the central bank signalled it would not intervene to support the local currency, traders said.At 0851 GMT commercial banks quoted the shilling at 3,460/3,470, weaker than Monday's close of 3,440/3,450.The market was driven by central bank comments last week that it was willing to let shilling depreciate to find its market level, Bank of Baroda treasurer Priphwijit Ghosh said."There's no confidence in the shilling in light of those comments and negative election sentiment is adding to the pressure," Ghosh said, referring to expectations of a surge in government spending, particularly on imports for infrastructure projects, before a national vote in early 2016.The local currency has been posting sharp losses in recent weeks and is 20 percent weaker against the greenback since the start of the year."There's a lot of speculation and panicked ...

Egyptian pound steady at auction, weaker on parallel market CAIRO: Egypt's central bank held the Egyptian pound steady at 7.73 pounds to the dollar at a foreign exchange auction on Tuesday following a depreciation over the past week, while the currency weakened on the parallel market. The central bank said it had offered $40 million and sold $39.6 million at a cut-off price of 7.7301 pounds per dollar, unchanged from Sunday's rate. The central bank had held the pound at 7.5301 pounds for the ...
Nigeria naira at new record low of 233 on parallel market LAGOS: Nigeria's naira was quoted at a new record low of 233 to the dollar on the parallel market on Tuesday, weaker than 232 naira on Monday owing to a shortage of the greenback, traders said. The naira has been on the ropes on the parallel market since the central bank introduced new measures two weeks ago restricting importers from sourcing the greenback from the interbank market, shifting dollar demand to the black market. The ...
South Africa's rand, bonds weaken sharply in Greece-related sell-off JOHANNESBURG: South Africa's rand fell more than 1 percent against the dollar on Monday as the looming prospect of a default by debt-ridden Greece sent investors scurrying from risky assets.The rand briefly plumbed a session low of 12.4100 per dollar before coming back to 12.2850 by 0642 GMT, down 0.66 percent from Friday's close in New York. Government bonds also fell sharply, with the yield for paper maturing in 2026 hitting a two-week high of ...
South Africa's rand firms after producer inflation rises JOHANNESBURG: South Africa's rand strengthened for a second straight session against the dollar on Thursday after producer inflation rose, backing the case for a rate hike sooner rather than later.At 1400 GMT the rand had gained 0.62 percent to 12.0870 per dollar, its strongest in over a month, taking advantage of lack of movement in the dollar and euro as Greek debt negotiations remained inconclusive.South Africa's producer price inflation quickened to 3.6 percent year-on-year in ...
South African rand firmer after inflation data backs case for higher rates JOHANNESBURG: South Africa's rand touched its strongest level in a month against the dollar on Thursday after producer inflation data added to recent signs that price pressures are rising, backing the case for higher interest rates. The rand hit a session high of 12.0820/dollar, its strongest since May 28 according to Thomson Reuters data. Copyright Reuters, 2015 ...
South Africa's rand gains slightly JOHANNESBURG: South Africa's rand made minor gains against the dollar on Wednesday, as appetite for emerging markets climbed due to jitters on whether Greece would default on its debt.Emerging market shares reached a 20-day high on Wednesday, gaining for a third day, with eastern European assets seesawing on concerns whether Europe will be able to pull off a precarious rescue deal for Greece.At 1600 GMT the rand was trading 0.14 percent stronger at 12.1450 rand ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln