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Egyptian pound steady at official auction, weaker at exchange bureaus CAIRO: Egypt's central bank kept the pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday, and the currency was weaker at exchange bureaus. The central bank said it had offered $40 million and sold $37.8 million at a cut-off price of 7.7301 pounds per dollar, unchanged from the rate at the last auction on Sunday. The central bank kept the pound at 7.5301 for five months until July, when it allowed it to weaken to 7.6301. On July 5, the bank let it slide a further 0.10 pounds. Letting the pound weaken in a controlled way could boost exports and attract further investment, but also raises Egypt's already large bill for imported fuel and food staples. A trader at an exchange bureau said the pound was changing hands at 8.025 pounds per dollar, weaker than the 8.015/8.02 rate quoted Sunday. The central bank gave banks permission ...

Ugandan shilling falters on liquidity, central bank intervention eyed KAMPALA: The Ugandan shilling was a notch weaker on Tuesday, undermined by an ease in local currency liquidity and month-end demand but the an anticipated central bank intervention was seen lifting confidence in the shilling. At 0911 GMT commercial banks quoted the shilling at 3,670/3,680, from Monday's close of 3,660/3,670. Shahzad Kamaluddin, trader at Crane Bank, said Bank of Uganda (BoU)'s injection of 134 billion shillings ($36.51 million) into the market on Friday via a ...
Kenyan shilling weakens on heavy dollar demand; stocks up NAIROBI: The Kenyan shilling weakened against the dollar on Monday as telecom and energy companies snapped up the US currency to meet their regular end-month demands.At the 1330 GMT close, commercial banks quoted the shilling at 104.00./10 to the dollar, from Friday's close of 103.80/90."We have some heavy corporate end-month demand," one Nairobi-based trader said.The shilling has also come under pressure from global market turmoil, with foreign investors withdrawing funds from emerging markets.The shilling, down ...
Ugandan shilling sags with few dollars coming in KAMPALA: The Ugandan shilling was weaker on Monday and may lose further ground, testing a key psychological level, if the central bank does not intervene on the supply side. At 1039 GMT commercial banks quoted the shilling at 3,665/3,675, weaker than Friday's close of 3,645/3,655."The main factor weighting on the shilling is that there are no significant inflows" of dollars," said Faisal Bukenya, head of market making at Barclays Bank. Last week, Bank of Uganda ...
Nigerian naira weakens 2.3pc against dollar on black market LAGOS: The Nigerian naira weakened against the dollar on Monday on the parallel market after a boost in liquidity and a surge in demand for dollars, traders said. The naira was trading at 218 to the dollar in the bureau de change market, 2.34 percent weaker than the 213 it closed at on Friday. "There is an upsurge in demand for the dollar due to increase in liquidity in the system, with some buyers wiling ...
Kenyan shilling holds steady, liquidity pressure expected NAIROBI: The Kenyan shilling was steady against the dollar on Monday but expected to come under pressure from strong liquidity in the money markets. At 0725 GMT commercial banks quoted the shilling at 103.80/104.00 to the dollar, barely changed from Friday's close of 103.80/90. "In the money market there is quite a bit of liquidity and we still keep getting customers who are interested in buying (dollars). I don't see why the shilling would gain," ...
Kenyan shilling holds steady, liquidity pressure expected NAIROBI: The Kenyan shilling was steady against the dollar on Monday but expected to come under pressure from strong liquidity in the money markets.At 0725 GMT commercial banks quoted the shilling at 103.80/104.00 to the dollar, barely changed from Friday's close of 103.80/90."In the money market there is quite a bit of liquidity and we still keep getting customers who are interested in buying (dollars). I don't see why the shilling would gain," one Nairobi-based ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln