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Middle East & Africa


South Africa's rand strengthens over 1pc after soft US jobs data JOHANNESBURG: South Africa's rand firmed on Monday alongside other emerging market currencies after softer-than-expected employment data from the United States dampened the prospect of an interest rate there in 2015. At 0920 GMT the rand gained 1.13 percent to 13.5765 per dollar after an overnight close of 13.7620 as the greenback lost ground against most currencies.Copyright Reuters, 2015 ...

Ugandan shilling firms as commercial banks trim positions KAMPALA: The Ugandan shilling was stronger on Monday as a slump in demand forced commercial banks to trim their hard currency positions, although the unit's strengthening was seen as only temporary. At 0907 GMT commercial banks quoted the shilling at 3,675/3,685, firmer than Friday's close of 3,680/3,690. "There's a (dollar) sell-off in the interbank," said Shahzad Kamaluddin, trader at Crane Bank. A market note from the Bank of Africa said the shilling's strengthening was "attributed ...
South Africa's rand adds to gains after weak US jobs data JOHANNESBURG: South Africa's rand strengthened more than 1 percent against the dollar in late afternoon deals on Friday, extending gains after weak US payrolls data dented expectations that the Federal Reserve will raise interest rates this year. By 1502 GMT, the rand had gained 1.07 percent to 13.7775 per dollar compared with Thursday's New York close. Copyright Reuters, 2015 ...
South Africa's rand slightly firmer, strong start for stocks JOHANNESBURG: South Africa's rand edged up against the dollar in early trade on Friday, with traders and analysts expecting the currency to get its steer mainly from U.S. employment data due out later in the session.Government bonds opened slightly weaker but the stock market got off to a firm start, with the benchmark JSE Top-40 index adding 0.8 percent to 45,610 while the broader All-share rose by the same margin to 50,911.By 0705 GMT the ...
Kenya's shilling firm, stocks down for fifth straight session NAIROBI: Kenya's shilling reversed some of its gains from earlier on Thursday due to some dollar demand from various sectors, but stayed at a one-month high.Stocks were down for a fifth straight day.At the close of trade at 1330 GMT, commercial banks quoted the shilling at 104.40/50 to the dollar, compared with Wednesday's close of 104.55/75."There's slight demand in the market, not from any particular sector, just importers, and some corporate (clients)," said a senior ...
Strong dollar underpins Gulf remittance flows, weak oil clouds outlook DUBAI: The US dollar's strength against Asian currencies is leading to a surge in remittances from migrant workers in the Gulf Arab region, exchange houses say, giving a boost to their home countries such as India, Philippines and Pakistan. But lower oil prices are expected to gradually reduce demand for blue-collar workers, tempering growth in remittances next year, say industry executives. With its huge population of expatriates, the Gulf is one of the most important ...
Central bank props up Kenyan shilling, main share index falls NAIROBI: The Kenyan shilling firmed slightly on Wednesday after the central bank injected dollars to the market to counter pressure from its decision to hold rates the previous day. The blue chip share index edged down.At the 1330 GMT close of trade, commercial banks quoted the shilling at 105.55/65 per dollar, slightly up from Tuesday's closing rate of 105.70/80.Traders attributed the firming to the central bank's sale of dollars, through brokers, after the shilling weakened ...


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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 $-1.998 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklySeptember 21, 2015
Reserves $18.726 bln