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Kenyan shilling lifted by central bank dollar sales NAIROBI: Kenya's shilling was lifted off three-year lows on Friday after the central bank sold dollars to support the weakening currency for a second consecutive day."They have sold (dollars) to mid-sized banks," said one trader, who asked not to be named because of sensitivities about publicly discussing central bank intervention and policies.By 0836 GMT, the shilling was quoted at 89.90/90.10, compared with 90.10/30 earlier in the session.The currency initially strengthened to 89.75/95 on Friday but gave up some of those gains.The central bank intervened on Thursday and last week as well, on both occasions selling dollars when the shilling was around the 90.30-level.For now, traders said the shilling was likely to be capped at about 90.50. They said the central bank's aim might be to deter speculation rather than spend its reserves supporting the currency when there was real corporate demand."The supply side continues to be constrained," said another trader ...

Kenyan shilling firms after central bank dollar sale, stocks up NAIROBI: Kenya's shilling strengthened from three-year lows on Thursday after the central bank intervened to support the currency by selling dollars. Stocks closed higher.The shilling closed at 90.05/15 to the dollar, compared with Wednesday's close of 90.15/25. The local currency had at one point firmed to 89.70/90, before reversing its gains.Sheikh Mehran, head of trading at I&M Bank, said dollar demand was coming from across various sectors, including banks, manufacturers, energy and telecommunications companies.The central ...
Kenyan shilling firms after central bank intervenes NAIROBI: Kenya's shilling strengthened from three-year lows on Thursday after the central bank intervened to support the currency by selling dollars, traders said.By 0905, commercial banks quoted the shilling at 90.00/90.10 to the dollar compared with Wednesday's close of 90.15/25.The currency had firmed to 89.90/90.10 immediately after the central bank's intervention.The Central Bank of Kenya (CBK) also sold dollars last week, helping the shilling strengthen to below the 90-mark against the dollar before it weakened ...
Egyptian pound strengthens in black market after volatile week CAIRO: Egypt's pound held steady at a central bank dollar sale on Thursday, while black market prices were volatile but generally stronger, traders said.The bank offered $40 million on Thursday and said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Wednesday.The price of dollars at the thrice-weekly auctions has stayed in a very tight range since the beginning of June, after the bank ...
Kenyan shilling hovers at 3-year lows, stocks rise NAIROBI: Kenya's shilling eased slightly to hover at 3-year lows on Wednesday on moderate dollar demand from companies, while stocks inched higher.At close of trade at 1300 GMT, commercial banks quoted the shilling at 90.15/25 to the dollar, compared with Tuesday's close of 90.10/20."It has weakened a bit. There was a bit of demand, not much, nothing to write home about," Chris Muiga, senior trader at National Bank of Kenya, said, adding that the local ...
South Africa's rand dips, all eyes on central bank rate decision JOHANNESBURG: Yields on South African bonds edged firmer while the rand softened against the dollar on Wednesday as investors held off ahead of an interest rate decision by the central bank.Local bonds continued to gain from demand for higher-yielding emerging market assets after Japan's surprise slip into recession, with the yield on the benchmark paper due in 2026 shedding 0.5 basis points to 7.815 percent.By 1603 GMT the rand had weakened 0.38 percent to 11.0725 ...
Ugandan shilling weakens as commercial banks buy dollars KAMPALA: The Ugandan shilling lost ground on Wednesday as commercial banks bought dollars, but its weakening was expected to be limited by a shortage of local currency.At 1027 GMT, commercial banks quoted the shilling at 2,743/2,753, weaker than Tuesday's close of 2,730/2,740."Some banks are going long, I think the bullish trend of the dollar in international markets is driving their demand," said Shahzad Kamaluddin, trader at Crane Bank."However there's significant tightness in availability of the ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln