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Middle East & Africa


Ugandan shilling flat, seen stronger on inflows from offshore investors KAMPALA: The Ugandan shilling was stable on Wednesday after a decline in dollar demand, but traders said the local currency could benefit from offshore investors attracted by a rise in debt yields.At 1053 GMT commercial banks quoted the shilling at 2,645/2,655, little changed from Tuesday's close of 2,647/2,657.Yields rose across all tenors at a Treasury bill auction on Wednesday where a total of 145 billion shillings ($54.78 million) worth of debt was up for sale."The yields' upward movement will generate confidence in the shilling. Some firming (for shilling) is possible but it will be gradual," said Ali Abbas, trader at Crane Bank.Traders say rates on Ugandan debt have remained relatively attractive to foreign investors in recent months, helping support the shilling which is down 4.7 percent against the dollar so far this year.David Bagambe, trader at Diamond Trust Bank said dollar demand is normally low at the start of the ...

Kenyan shilling, stocks shrug off GDP rise to hold steady NAIROBI: The Kenyan shilling and main stock market index were flat on Tuesday, shrugging off a jump in the gross domestic product of East Africa's biggest economy after the authorities changed the base calculation year.Foreign exchange and stock market traders said both markets had factored in a rise of Kenya's GDP, now estimated to be 25 percent bigger after the base calculation year was changed to 2009 from 2001.At close of trade at 1300 GMT, ...
South Africa's rand falls to fresh 8-month low after poor trade data JOHANNESBURG: South Africa's rand continued a downward spiral against the dollar on Tuesday, tumbling to fresh eight-month lows after the revenue service reported a sharp widening of the trade deficit.The trade account recorded a 16.3 billion rand ($1.44 billion) shortfall in August, its biggest gap in seven months.The poor trade data compounds South Africa's economic problems brought about by expected policy normalisation in the United States. South Africa's wide current account deficit, fed by a ...
Kenyan shilling weakens, Centum leads stocks higher NAIROBI: The Kenyan shilling weakened on Monday due to increased importer demand for dollars, while stocks closed higher lifted by investment firms.At close of trade at 1300 GMT, commercial banks quoted the shilling at 89.30/40 to the dollar, compared with Friday's close of 89.10/20.Earlier in the session, traders said the shilling was expected to weaken as the month drew to a close, due to demand from importers in sectors like manufacturing and energy.Traders said demand ...
Nigeria naira gains on central bank dollar intervention LAGOS: The Nigerian naira firmed 0.12 percent to close at 163.70 against the dollar on Monday, after the central bank sold dollars directly to lenders on the interbank market to prop up the ailing currency, dealer said. The local unit eased to around 164.15 naira by midday trade, prompting the central bank to intervene with an undisclosed amount of dollars sold directly on the interbank market, dealers said. The naira closed at 163.90 on Friday. ...
Kenyan shilling steady, seen easing on end-month dollar demand  NAIROBI: The Kenyan shilling was steady on Monday and traders said it was expected to remain under pressure due to end-month dollar demand from importers and other corporate clients.At 0803 GMT, commercial banks quoted the shilling at 89.10/30 to the dollar, compared with Friday's close of 89.10/20.Traders said the shilling was expected to weaken as the month drew to a close, due to demand from importers in sectors like manufacturing and energy."It's the end of ...
South Africa's rand touches new 8-month low vs dollar, seen struggling JOHANNESBURG: South Africa's rand touched a fresh 8-month low against the dollar on Monday as the greenback extended last week's broad-based gains after stronger than expected U.S. GDP data.The rand fell to 11.2755 to the dollar, its weakest since Feb. 3 according to Thomson Reuters data, and was at 11.2525 by 0700 GMT. This compared with Friday's New York close at 11.2290.The dollar touched a fresh four-year high against a basket of currencies and a ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln