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Kenyan shilling strengthens on foreign debt inflows SNAIROBI: The Kenyan shilling strengthened on Thursday as foreign investors bought Kenya's high-yielding debt. Stocks were down.At the 1330 GMT close, commercial banks posted the shilling at 103.00/10, gaining from Wednesday's closing 103.25/35."The shilling is firmer on the back of increasing yield appeal" from the central bank's Treasury bill auction on Wednesday, said a trader at a major commercial bank in Nairobi.At Wednesday's auction, the weighted average yield on Kenya's 364-day Treasury bills jumped to 21.498 percent from 20.695 percent last week. The yield on the 182-day Treasury bill rose to 21.607 percent from 20.331 percent last week.The trader said that the underlying problems that have steadily weakened the shilling against the dollar for much of the last year are still present. The shilling could return to the 104 level by next week, he said.The shilling has been under pressure from the dollar's strength, Kenya's high current account deficit and ...

Egyptian pound steady at dollar sale, weaker on parallel market CAIRO: Egypt's central bank kept the pound steady at a dollar sale on Sunday, as it sold $37.8 million at a cut-off price of 7.7301 pounds per US currency. Traders said the pound was weaker on the parallel market. The official cut-off price was unchanged from Thursday's dollar sale, but two traders said the dollar was changing hands at 8.15/17 to the dollar in the parallel market, weaker than Sunday's rate of 8.05. Egypt has ...
Uganda shilling little changed, long weekend dampens importer demand KAMPALA: The Ugandan shilling firmed slightly on Thursday amidst sluggish demand as importers and other buyers stayed on the sidelines ahead of a long weekend.At 1001 GMT commercial banks quoted the shilling at 3,675/3,685, slightly stronger than Wednesday's close of 3,678/3,688. "The local unit is drawing support from an absence of demand," said Faisal Bukenya, head of market making at Barclays Bank. Bukenya said appetite from importers was especially low as a long weekend approached. ...
Kenyan shilling edges down, T-bill auction eyed NAIROBI: The Kenyan shilling was slightly weakened against the dollar on Wednesday, with traders saying they were awaiting the outcome of a Treasury bill auction to determine the direction the currency might take. Stocks were up.At the 1330 GMT close of trade, commercial banks posted the shilling at 103.35/45, after Tuesday's close of 103.20/30."It's pretty stable. Both demand and supply are well-matched," said a trader with a leading commercial bank.Kenya's central bank will auction 182- ...
Ugandan shilling flat as slow consumer spending cools importer demand KAMPALA: The Ugandan shilling was stable for a second straight day on Wednesday, as slow consumer spending depressed appetite for hard currency among importers. At 0943 GMT commercial banks quoted the shilling at 3,680/3,690, unchanged from Tuesday. "Importers are telling us sales are slow, which is consequently limiting their (dollar) demand," said Faisal Bukenya, head of market making at Barclays Bank. "Some of the buyers are also staying away because they consider the dollar's current ...
South Africa's rand rises to 2-week high as US rate hike bets pushed back JOHANNESBURG: South Africa's rand gained more than one percent against the dollar on Wednesday to a two-week high of 13.3600 as the greenback slipped, with investors pushing back bets of a 2015 rate hike by the Federal Reserve. The US's trade deficit widened by its most in five months in August, reinforcing expectations that the Fed would delay hiking rates for the first time since 2006 until next year. Copyright Reuters, 2015 ...
Kenyan shilling weakens as manufacturers buy dollars NAIROBI: The Kenyan shilling weakened against the dollar on Tuesday amid increased dollar demand from the manufacturing sector and was seen slipping further. Stocks were down.At the 1330 GMT close of trade, commercial banks posted the shilling at 103.20/30 per dollar, compared with Monday's closing rate of 103.05/15."What we've seen is unlocked importer demand," said a trader at a major commercial bank in Nairobi, adding that the Kenyan currency could weaken to 104.70/80 by the ...


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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 $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln