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Middle East & Africa


Nigeria naira sheds 1.58 against dollar ahead of central bank rate decision LAGOS: Nigeria's naira traded down 1.58 percent on Tuesday from its previous close and ahead of a central bank decision on interest rates, dealers said. The unit fell to 176.35 naira against the dollar, compared with 173.55 naira its previous close on Monday.Copyright Reuters, 2014 ...

Kenyan shilling nears 3-year low after attacks, shares fall NAIROBI: Kenya's shilling weakened to close near three-year lows on Monday after Islamist militants ambushed a bus and killed 28 people near the Somali border at the weekend, threatening the country's ailing tourism industry. Shares also retreated.At the 1600 GMT close of trade, commercial banks posted the shilling at 90.05/90.25 against the dollar, weaker than Friday's closing level of 90.05/15. Earlier this month the shilling weakened to 90.25/35, its lowest level since November 2011."The attack ...
Ugandan shilling stronger after interbank sell-off KAMPALA: The Ugandan shilling gained on Monday as slackening corporate demand spurred a sell-off in the interbank market. At 0926 GMT, commercial banks quoted the shilling at 2,745/2,755 per dollar, stronger than Friday's close of 2,750/2,760. "Demand from corporates has dropped significantly and has touched off some (dollar) sell-off pressure," said Shahzad Kamaluddin, trader at Crane Bank."That's lifting the shilling." The central bank of Uganda has moved aggressively in recent days to mop up excess ...
Nigeria naira firms 1.5pc after oil companies sell dollars LAGOS: Nigeria's naira firmed 1.5 percent during mid-day trade from its open, after two foreign oil companies sold the greenback to boost interbank market liquidity amid strong dollar demand, dealers said. The unit, which opened at 178.25 naira against the dollar on Monday, firmed to 175.60 at 1237 GMT in volatile trade. Dealers said French oil company Total and China's Addax sold an undisclosed amount of dollars to lenders, which helped prop up the naira. ...
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 ...
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 ...


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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