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Nigeria's naira in biggest monthly fall for five years LAGOS: Nigeria's currency suffered its biggest monthly fall in over five years this February, dealers said, citing concerns over political uncertainty and the central bank's ability to manage a currency hammered by weak oil prices. The naira shed 8.3 percent to the dollar in February, dealers said, worse than a 6.9 percent fall in November after central bank devalued the currency by 8 percent in order to save its foreign reserves.However, reserves have fallen steadily and were down 8.6 percent by February 26 from a month ago, to stand at $31.46 billion after central bank stepped up support for the currency. The naira closed at 202 on the interbank market on Friday, a level it broadly traded at this week, dealers said. A sale was carried out on Friday just before the interbank market closed, at 198 naira for $82.9 million, Thomson Reuters data showed. Dealers attributed the trade to ...

Rand reverses gains, tracks weaker euro JOHANNESBURG: South Africa's rand weakened against the dollar in line with the euro on Thursday, relinquishing earlier gains which had been triggered by the government's plan to narrow the budget deficit.At 1523 GMT the local unit was trading down 0.75 percent at 11.5325 per dollar, compared with Wednesday's close of 11.4460."We had a lovely start to the day - the markets perceived the budget as friendly; there was a general risk-on type of thing and ...
Kenyan shilling seen weaker, stocks edge higher NAIROBI: Kenya's shilling closed slightly firmer, with inflows of foreign exchange from tea sales and other sectors countering end-month importer demand for dollars.The main benchmark index closed slightly higher.The shilling ended the day at 91.30/40 to the dollar, marginally stronger from Wednesday's close of 91.40/50."The shilling has been very stable in a lacklustre trading session," said Sheikh Mehran, head of trading at I&M Bank.Kenya's central bank kept its key lending rate unchanged as expected at ...
South Africa's rand reverses gains, tracks weaker euro JOHANNESBURG: South Africa's rand weakened against the dollar in line with the euro on Thursday, relinquishing earlier gains which had been triggered by the government's plan to narrow the budget deficit. At 1523 GMT the local unit was trading down 0.75 percent at 11.5325 per dollar, compared with Wednesday's close of 11.4460. "We had a lovely start to the day - the markets perceived the budget as friendly; there was a general risk-on type of ...
South Africa's rand muted, focus on Wednesday budget speech JOHANNESBURG: South Africa's rand traded cautiously against the dollar ahead of the budget speech on Wednesday in which Finance Minister Nhlanhla Nene is expected to keep his budget deficit target unchanged from October forecasts. South Africa's has been dogged by the uncomfortably high fiscal and budget deficits recently, often putting the currency under pressure in times of heightened global risk aversion.At 0710 GMT, the rand was at 11.4725 against the dollar, unchanged from last night's ...
South Africa's rand gains after GDP surprise, focus on budget JOHANNESBURG: South Africa's rand gained on Tuesday supported by better-than-expected fourth quarter economic growth numbers but traders remained cautious ahead of a budget speech the next day.At 1501 GMT the rand was trading 0.41 percent stronger at 11.6000 to the dollar. The currency gained 0.58 percent against the euro at 13.1028.South Africa's GDP expanded above forecasts by an annualised 4.1 percent quarter-on-quarter in the fourth quarter of 2014, Statistics South Africa said."The rand has done ...
South Africa's rand, government bonds weaken over budget jitters JOHANNESBURG: South Africa's rand weakened on Monday and traders were expecting the currency to remain under pressure as investors awaited a slew of key economic data later in the week for direction. At 1505 GMT the rand was trading 0.33 percent weaker at 11.6500 to the dollar compared with its Friday closing level of 11.6120.The currency traded 0.42 percent softer to the euro at 13.1923. "The rand remains under pressure because the situation locally on ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln