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Middle East & Africa


South Africa's rand, bonds weaken sharply in Greece-related sell-off JOHANNESBURG: South Africa's rand fell more than 1 percent against the dollar on Monday as the looming prospect of a default by debt-ridden Greece sent investors scurrying from risky assets.The rand briefly plumbed a session low of 12.4100 per dollar before coming back to 12.2850 by 0642 GMT, down 0.66 percent from Friday's close in New York. Government bonds also fell sharply, with the yield for paper maturing in 2026 hitting a two-week high of 8.445 percent. It was 8 basis points higher at 8.39 percent by 0642 GMT compared to where it ended Friday's session.The sell-off in local assets reflected global market moves, with the euro down sharply on the day in Asian trading after Greece failed to strike a deal with its lenders, taking it a step closer to a debt default."The market is going to be really nervous during the early morning session and the rand could ...

South Africa's rand firms after producer inflation rises JOHANNESBURG: South Africa's rand strengthened for a second straight session against the dollar on Thursday after producer inflation rose, backing the case for a rate hike sooner rather than later.At 1400 GMT the rand had gained 0.62 percent to 12.0870 per dollar, its strongest in over a month, taking advantage of lack of movement in the dollar and euro as Greek debt negotiations remained inconclusive.South Africa's producer price inflation quickened to 3.6 percent year-on-year in ...
South African rand firmer after inflation data backs case for higher rates JOHANNESBURG: South Africa's rand touched its strongest level in a month against the dollar on Thursday after producer inflation data added to recent signs that price pressures are rising, backing the case for higher interest rates. The rand hit a session high of 12.0820/dollar, its strongest since May 28 according to Thomson Reuters data. Copyright Reuters, 2015 ...
South Africa's rand gains slightly JOHANNESBURG: South Africa's rand made minor gains against the dollar on Wednesday, as appetite for emerging markets climbed due to jitters on whether Greece would default on its debt.Emerging market shares reached a 20-day high on Wednesday, gaining for a third day, with eastern European assets seesawing on concerns whether Europe will be able to pull off a precarious rescue deal for Greece.At 1600 GMT the rand was trading 0.14 percent stronger at 12.1450 rand ...
Ugandan shilling marginally stronger as dollar demand slows KAMPALA: The Ugandan shilling firmed on Wednesday, buoyed by slowing dollar demand from corporates but its outlook was still seen as bearish on scant hard currency inflows and fears over rising government spending.At 0925 GMT commercial banks quoted the shilling at 3,290/3,300, stronger than Tuesday's close of 3,310/3,320.The local currency is now 16 percent weaker against the greenback so far this year."Demand from both interbank and corporates has slowed down a bit and we're seeing ...
Egyptian pound steady at official auction, slightly weaker on black market CAIRO: Egypt's central bank kept the pound's exchange rate steady at 7.53 to the US dollar at a foreign exchange auction on Tuesday, with black market rates slightly weaker. The central bank has held the official exchange rate unchanged for four months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading. In Tuesday's auction the bank said it had offered $40 million and ...
South Africa's rand weakens as rally for riskier assets pauses JOHANNESBURG: South Africa's rand weakened more than one percent to the dollar on Tuesday, softening to a one week low of 12.2300 per greenback as a recent rally for riskier assets petered out. According to one trader, technical factors were also beginning to filter through with the 12.30 support level in sight, putting some strain on the dollar rand cross.Copyright Reuters, 2015 ...


Index Closing Chg%
Arrow DJIA 17,730.11 0.16
Arrow Nasdaq 5,009.22 0.08
Arrow S&P 2,076.78 0.03
Arrow FTSE 6,585.78 0.67
Arrow DAX 11,058.39 0.37
Arrow CAC-40 4,808.22 0.57
Arrow Nikkei 20,539.79 0.08
Arrow H.Seng 26,064.11 0.83
Arrow Sensex 28,092.79 0.53

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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln