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Ugandan shilling stronger, buoyed by shortage KAMPALA: The Ugandan shilling rose on Wednesday buoyed by a shortage of the local currency, and was seen strengthening after yields on government debt increased.At 1119 GMT commercial banks quoted the shilling at 2,600/2,610, stronger than Tuesday's close of 2,615/2,625."The market is very short on shillings and consequently the local unit is getting a lot of support," said Ahmed Kalule, trader at Bank of Africa.Kalule said the shortage had pushed up the cost of overnight funds to an average of 12 percent, up from around 8 percent when the market is sufficiently liquid.On Tuesday, the central bank or Bank of Uganda sucked 159 billion shillings ($61.15 million) out of the market via a seven-day repo, he said.The shilling is seen as having a firm medium-term outlook, helped by an upward trend in yields on government debt.At Wednesday's Treasury bill auction, rates rose across all tenors with the benchmark 91-day paper ...

Kenyan shilling firms, main share index slips NAIROBI: The Kenyan shilling firmed on Wednesday, lifted by profit-taking and exporters cashing in on the currency's recent losses, while the NSE-20 share index stumbled.At the 1300 GMT close of trade, commercial banks quoted the shilling at 88.20/30 to the dollar, up from Tuesday's close of 88.35/88.45, its low for this year.The shilling slipped past 88.20 per dollar late on Monday, triggering panic-buying among importers in Tuesday's session, which pushed it to its 2014 low."It ...
Kenyan shilling firms against dollar, gains may be short-lived NAIROBI: The Kenyan shilling firmed on Wednesday, buoyed by dollar inflows from the tea sector, but traders said the currency was more likely to weaken again in coming days.At 0730 GMT, commercial banks quoted the shilling at 88.20/88.35 to the dollar, slightly down from Tuesday's close of 88.35/88.45."There are inflows from tea sector sales," said John Njenga, trader at Commercial Bank of Africa.Tea is one of Kenya's leading foreign currency earners and is sold at ...
Egyptian pound unchanged on official and black markets CAIRO: The Egyptian pound remained stable at a dollar sale by the central bank and on the black market on Wednesday.The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, the same as its price in its last sale, on Monday.On the black market the dollar changed hands at 7.38/40 pounds, the same rate as a day before.The rate for dollar sales has stayed in a tight range ...
Kenyan shilling weakens against dollar, shares rise NAIROBI: The Kenyan shilling weakened on Tuesday, hurt by dollar demand from the banking, oil and telecoms sectors, while shares rose.At the close of trade, commercial banks quoted the shilling at 88.35/88.45 to the dollar, down from Monday's close of 88.20/88.30.Traders said banks were buying the dollar to cover their short-dollar positions."The shilling has been weakening rapidly at a time when there is tight liquidity in the market," said Nahashon Mungai, a trader at Kenya ...
South Africa's rand slips as US economy boosts dollar JOHANNESBURG: South Africa's rand weakened in morning trade on Tuesday as encouraging economic reports in the United States pushed the dollar higher.At 0644 GMT, the rand had fallen 0.2 percent from its New York close to 10.6250 per dollar, nearing a four-day high it touched in the previous week.The dollar was buoyed by a report showing home-builder sentiment in the United States at a seven-month high . The world's largest economy is seeing a recovery ...
Kenyan shilling eases against dollar, central bank action eyed NAIROBI: The Kenyan shilling weakened on Tuesday, hurt by dollar demand from the oil and telecommunication sectors, as traders watched to see if the central bank would intervene to stop the currency's depreciation.At 0730 GMT, commercial banks quoted the shilling at 88.25/88.35 to the dollar, slightly down from Monday's close of 88.20/30.The shilling, down about 2.3 percent against the dollar this year, has been weakening over the past few weeks, even though liquidity has tightened. ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln