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Middle East & Africa


South Africa's rand softer, bonds flat on rate decision JOHANNESBURG: South Africa's rand was a touch softer against the dollar on Thursday, coming off the session's highs after the central bank left rates unchanged despite a hawkish policy statement that had fuelled last minute expectations for a hike.Governor Lesetja Kganyago said the bank's monetary policy committee voted 4:2 in favour of keeping the benchmark repo at 5.75 percent but warned the deteriorating inflation outlook meant the stance could not be "maintained indefinitely".The rand touched a session high of 11.7350/dollar after Kganyago warned that inflation expectations remained uncomfortably close to the upper end of the 3-6 percent target range over the longer term.It had retreated to 11.8400 by 1531 GMT, little changed from Wednesday's closing level of 11.8355."The sell-off in the rand post the MPC meeting ... tells us that the market wants the Reserve Bank to start hiking interest rates," said Jana van Deventer, a market analyst at ETM."There's ...

South Africa's rand, bonds boosted by soft inflation print JOHANNESBURG: South Africa's rand firmed against the dollar on Wednesday after softer-than-expected inflation bolstered the case for local lending rates to remain on hold.At 1526 GMT the rand gained 0.37 percent to 11.8640 per dollar, pulling away from the crucial 12.00 mark after April headline inflation quickened to 4.5 percent year-on-year, slightly below expectations."Fixed rates are printing lower and the currency was also impacted positively," said Marten Banninga of World Wide Capital Securities.Yields on governments ...
South Africa's rand weaker against globally firmer dollar JOHANNESBURG: South Africa's rand weakened against the dollar on Monday as the greenback made broad-based gains, recovering from almost four-month lows reached last week on another bad round of U.S. economic data.At 1501 GMT the local unit, which touched two-week highs on Friday, shed 0.54 percent to 11.8475 per dollar compared with its closing 11.7800 in New York on Friday.The dollar gained against the basket of major currencies in a market eyeing the U.S. inflation ...
Kenyan shilling firms, shares tread water NAIROBI: The Kenyan shilling firmed on Friday, helped by subdued corporate dollar demand and sales of the US currency by companies seeking funds for tax payments next week.The main share index was little changed.At the close of trade, commercial banks quoted the shilling at 95.85/95 to the dollar, from 96.15/25 at Thursday's close."We have the fact that next week corporates will be paying their taxes. So you find that now corporate demand might ease as ...
South Africa's rand, bonds extend gains as US economy stutters JOHANNESBURG: South Africa's rand extended gains on Thursday as the dollar slipped, hit by growing concerns over the U.S. economy.By 1410 GMT the rand had firmed 0.72 percent to 11.7950 per dollar, adding to gains that buoyed the unit to a 2-week high in the previous session after retail data from the world's strongest economy underwhelmed.April retail figures showed reduced spending by U.S. consumers while import prices fell for a 10th straight month, sending the ...
Kenyan shilling firms, benchmark share index flat NAIROBI: The Kenyan shilling firmed on Thursday, helped by subdued dollar demand but traders said the local currency was expected to weaken when importers resume buying the US currency.At the close of trade, leading commercial banks quoted the shilling at 96.15/25 to the dollar, up from 96.40/50 at Wednesday's close.However, traders said the shilling, which has lost 5.7 percent so far this year against the dollar, will resume weakening as importers return to the market ...
Weak US data buoys South Africa's rand to 2-week high JOHANNESBURG: South Africa's rand firmed more than 1-1/2 percent to a two-week high against the dollar as weak economic data from the U.S. suggested its economy continues to struggle.High yielding emerging market currencies such as the rand tend to strengthen whenever U.S. data undermines the case for interest rates to rise in the world's biggest economy.At 1520 GMT the rand had gained 1.53 percent to 11.880 per dollar, its firmest level since April 30, as ...


Index Closing Chg%
Arrow DJIA 18,285.74 0.01
Arrow Nasdaq 5,090.79 0.38
Arrow S&P 2,130.82 0.23
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Arrow H.Seng 27,523.72 0.22
Arrow Sensex 27,809.35 0.10

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln