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South Africa's rand buoyed by emerging market appetite JOHANNESBURG: South Africa's rand strengthened for a second day against the U.S. dollar on Wednesday, supported by increased emerging market risk appetite and after the economy avoided slipping into recession in the previous session.The local unit rallied to its strongest in six-days against the greenback, trading at 10.6300 by 1545 GMT, 0.44 percent stronger than its New York close.Economist Jana van Deventer at ETM Analytics said the rand, along with other emerging market currencies, was being driven mainly by global, rather than local, factors.Trade deficit and credit demand data due on Friday could give greater direction to the rand, he said."We recommend caution ahead of those releases as they are bound to show that S.A. remains subject to large twin deficits," van Deventer said."I think this resilience could prove short-lived," he added.A Reuters poll predicts the July trade balance will widen to a 3.2 billion rand deficit, from 19 million ...

Ugandan shilling extends losses as dollar demand from banks weighs KAMPALA: The Ugandan shilling extended losses for a third straight day on Wednesday, pressured by commercial banks' appetite for dollars.At 1115 GMT commercial banks quoted the shilling at 2,607/2,617, weaker than Tuesday's close of 2,600/2,610."Demand pressure has come in from some commercial banks who were short," said Faisal Bukenya, head of market making at Barclays Bank.Ahmed Kalule, trader at Bank of Africa, said recent demand by corporates had left most commercial banks short, spurring their ...
Egyptian pound steady against the dollar at central bank sale CAIRO: Egypt's pound held steady at a central bank dollar sale on Wednesday, with the bank saying it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Monday's rate.The rate for dollar sales has stayed in a very tight range since the beginning of June, after the bank allowed the pound to weaken in May. The central bank offered $40 million on Wednesday.The rates at which banks are allowed to ...
Kenyan shilling unchanged, seen supported by central bank NAIROBI: The Kenyan shilling was flat against the dollar on Wednesday, and traders said they expected the currency to trade in a tight range underpinned by support from the central bank.At 0700 GMT, commercial banks posted the shilling at 88.30/40 per dollar, unchanged from Tuesday's close.The central bank pumped an unspecified amount of dollars into the market on Tuesday, lifting the shilling from 88.80/90, its lowest level since December 2011."It's a pretty quiet start to ...
Kenyan shilling weaker, central bank intervention eyed NAIROBI: The Kenyan shilling lost ground again on Tuesday, with end-month dollar demand pushing the currency to multi-year lows and stoking expectations that the central bank will intervene to support the shilling.At 0740 GMT, commercial banks posted the shilling at 88.75/85 per dollar, compared to Monday's close of 88.65/75, the currency's lowest level since December 2011.The shilling, which has lost about 3 percent against the dollar this year, has been weakening in the past few ...
Ugandan shilling dips on dollar demand from manufacturers KAMPALA: The Ugandan shilling was a touch weaker on Tuesday, hurt by demand for dollars from manufacturing firms, and is not expected to move significantly before the release of inflation data at the end of the week.At 0935 GMT commercial banks quoted the shilling at 2,598/2,608, marginally weaker than Monday's close of 2,595/2,605."The slight weakening for the shilling is being driven by pockets of demand from the manufacturing sector," said Isaac Iga, chief dealer at ...
Ugandan shilling weakens as manufacturers seek dollars KAMPALA: The Ugandan shilling weakened a touch on Monday on dollar demand from manufacturing firms but traders say losses will be limited by central bank liquidity mop-ups and month-end dollar inflows.At 0926 GMT commercial banks quoted the shilling at 2,595/2,605, weaker than Friday's close of 2,590/2,600."Some manufacturing firms came in and exerted demand so the shilling has edged higher (weaker)," said Faisal Bukenya, head of market making at Barclays Bank.He said, however, the local currency ...

 



 
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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 25, 2014
Reserves $13.925 bln